The monument pays tribute to the five times Ecuadorian president, Doctor Jose Maria Velasco Ibarra, born in Quito on March 19 of 1893 and passed away in that city, on March 30 of 1979.
Velasco, held the presidency, four times by popular election and named by the congress, in two of his exercises proclaimed himself supreme leader and only in one occasion (his third presidency) his period conclude. His presidential term were met between the 1st of September of 1934 to the 20th of May of1935; 28th of May of 1944 to 24th of August of 1947; the 1st of September of 1968 to the 15th of February of 1972.
The monument on his honor was made by the guayaquileño’s author Luis Gomez Alban.
The bronze sculpture of 5.28 meters high, shows Velasco dress elegant, with an arm raised, pronouncing a speech, like his style used to be, when addressing to the people.