This is one of the oldest squares that arose in Podil during the times of Kyivan Rus. After moving Kyiv’s centre to Podil in 1240 due to the destruction of the Upper City by the Mongol-Tatars, the Square of Contracts became the main square of the city. In the 15th century, the city hall was built here, and in the 18th century, the place became the centre of international contract fairs.
The square acquired its modern appearance at the beginning of the 19th century. Hostynnyi Dvir and the new House of Contracts were built there at that time. Now, there are the Old Academic building of the Kyiv-Mohyla Academy, Kyiv Magistrate, Kyiv Municipal Academic Theatre of Opera and Ballet for Children and Youth, Fountain of Samson, Hryhoriy Skovoroda and Petro Sahaidachnyi monuments, Church of the Pyrohoshcha Dormition of the Mother of God, and the highest Ferris wheel in the capital. Since 2017, the square has become a pedestrian area. Now concerts, fairs and other events are often held here.