The monument is the work of Italian Augusto Faggioni Vannuncci, which was inaugurated on October 9, 1909. The history of the statue goes back to the final days of 1894, after three days of Carbo’s death, which occurred on Christmas eve, December 24, 1894, when during an extraordinary session of the Municipality, it was decided to craft the statue. The following year, a committee was appointed to carry out the work. 14 years passed until the statue was inaugurated on October 9, 1909, before an excited crowd.
The monument, crafted in two colors of Carrara marble, gray for the base and white for the statue, is considered one of the most beautiful statues of the city. It depicts Pedro Carbo, renowned citizen of Guayaquil, elegantly dressed standing in front of a chair with the liberal credo in one hand just as he is about to give a speech. Its decoration is simple but of magnificent perspective. A pillar pedestal whose front is faced by a woman sitting in a bench that represents the Republic supports the statue.