On December 25, 2014, a solemn opening of the monument to Vasily Ivanovich Alekseev, a renowned weightlifter and native of this city, took place in Shakhty. The decision to create the monument was made during the farewell ceremony for the athlete on December 1, 2011.

In the summer of 2012, a competition was announced for the best design of the monument, with eight projects participating. Masters from Moscow, St. Petersburg, Rostov-on-Don, and Shakhty presented their works. The project by Rostov sculptor Dmitry Vasilyevich Lyndin won. The monument was installed near the Sports Palace in Shakhty, where Alekseev lived, studied, and trained.

The sculpture is made of bronze, and the pedestal is made of granite. The two-time Olympic champion is depicted at the moment of victory: a barbell lies below, and the athlete stands on the pedestal with his arms raised, as he did after winning competitions.