The monument was unveiled on September 6, 1913, exactly two years after the death of the Prime Minister, in Dumska Square (now Independence Square) opposite the City Duma building and stood until the revolutionary events of 1917.

The project of the monument was created for free by the famous Italian sculptor E. Ximenes, who is also the author of the monument to Alexander II, unveiled on August 30. The square in front of the city duma on Khreshchatyk was chosen for the installation of the monument.

The bronze statue depicted Stolypin in full height, in a formal frock coat, and reached a height of 12 arshins (about 8.5 m). The pedestal on which the figure stood was made of light gray granite. On both sides of the monument were allegorical figures: Might (Russian knight) and Sorrow (Russian woman). On each side of the pedestal were inscriptions. The front side read: "To Pyotr Arkadyevich Stolypin, from the Russian people." To the left, above the figure of the woman, was the inscription: "I firmly believe that the light of the Russian national idea, ignited in the west of Russia, will not be extinguished and will soon illuminate all of Russia." To the right, above the figure of the knight, it was written: "You need great upheavals, we need a great Russia." On the back side of the pedestal was the inscription: "Born April 2, 1862, in Moscow. Dedicated his life to serving the motherland. Fell at the hands of an assassin on September 1-5, 1911, in Kyiv."

The Stolypin monument stood for only four years and was dismantled after the February Revolution on March 17 (30), 1917. Before its removal, revolutionaries held a "people's court" over the defender of autocracy, and a structure resembling a gallows was used for its demolition. The statue was kept for some time at the Arsenal factory before being melted down. The sculptures of the "Knight" and "Woman of Russia," which adorned the pedestal, also ended up at the Arsenal factory and were later transferred to the Lavra Museum Reserve, where they disappeared without a trace.