The architectural ensemble of the Round Square was formed in the 1760-1780-ies. This is the only ensemble in the city monument stone architecture of the XVIII century. It consists of two semi-circular buildings and two wings built in the classical style.

Originally designed by architect E.Nazarova in 1775 on each side of the square were built on 3 separate houses. According to the general plan for the city he was given a central place in shaping Petrozavodsk - hence the cross-sections through the buildings had to radially disperse the main streets. At first, it housed Olonets mining board and its warehouses.

In 1778-1779 gg. side of the building are connected to the central, thus forming two housings. One of them became the residence of the governor, the other government offices are located. In 1839, the provincial architect V.Tuhtarov changed some architectural design of buildings, and combined them with wings dull stone wall.

In 1873, in the center of the square was a monument to Peter the Great, founder of the city, which in 1918 was moved to the area before the museum. Today, the monument is located on the waterfront. In 1933, in the center of the square was erected a monument to Lenin, from 1960, the area bears his name.

Now, in a complex of buildings located area Karelian State Museum of Regional Studies, Ministry of Culture and its subordinate institutions.

The Governor's Park near the square is a monument to GRDerzhavin, Russian poet and the first governor of Olonets province.