The Siberian Square was established in 1925 and since then it has been called like that, after the Asian part of Russia. An exception was in the period of German occupation, when it was called Ošperské Square during 1940-1945. Let’s add that Aspry (Ošpry) is a town in Lower Austria, where a battle was fought between the Austrians and the French in 1809.

Former quiet environment of the noble villa quarter of the First Republic has been degraded by the increasing traffic load not only in Bubenečská Street. Among the local houses there is one of indisputable architectonic quality level, no. 280, built in 1907 according to the design by arch. Jan Kotěra. Older house-building was completed with premises of Russian school in the second half of 20th century; nowadays it is a High School by the Embassy of the Russian Federation in the Czech Republic. Since 1981, by the school in a modified green area there is standing a sculpture of two girls on a high pedestal, called Youth by sculptor Jiří Kryštůvek.

On north-east side of the square there is a dominant of a storied long building of Trade mission of the Russian Federation no. 1027. It was constructed during 1962-1963 according to the design by arch. Lumír Holuša, Jiří Kulišťák and Vladimír Leníček. A bit lower there is a round building of the previous exhibition pavilion of the Trade mission of USSR from 1972-1975. The steel skeleton with brick fillings and area of 500 m2 was designed by arch. Vratislav Růžička, Boris Rákosník and Vladimír Mošna. Today, there is Museum VETERAN CAR ŠTANGL.

Centre of the square is modified like a park. The original fountain, formed by two reinforce-concrete pools, coated with glazed granite with prisms and bronze reliefs on the walls by sculptor Karel Hladík, has been in very bad condition.