The architectural ensemble of the Round square was formed in 1760-1780-ies. It is the city's only monument stone architecture of the XVIII century. It includes two semi-circular building and two wings, built in the classical style.

Originally designed by architect E. Nazarova in 1775 on each side of the square were built for 3 detached houses. According to the General plan of city development, they play a Central role in shaping the Petrozavodsk - out through the cross-sections of buildings were supposed to disperse radially of the main streets. At first it housed the Olonets mining Board and its warehouses.

In 1778-1779 side of the building were connected to the Central, forming thus two corps. One of them was the Governor's residence, located in another public places. In 1839, the provincial architect V. Tuktarov changed some of the architectural design of buildings and connected them with wings a deaf stone wall.

In 1873 in the centre of the square was a monument to Peter the great, the founder of the city, which in 1918 was moved to the square in front of Museum. Now the monument is located on the waterfront. In 1933 in the middle of the square was erected a monument to Lenin, since 1960, the area bears his name.

Today the complex of buildings of the square is the Karelian state Museum of local lore, the Ministry of culture of the Republic of Kazakhstan and its agencies.

In Governors Park near the square is a monument to G. R. Derzhavin, Russian poet and the first Governor of Olonets province.