The first name of the square was At the Pension Institute during 1935-1955. It was due to the fact that one of outstanding Prague architectonic dominants and one of the principal works of Czech functionalism, General Pension Institute, nowadays House of Trade Unions no. 1800, 1839 and 1840 grew on part of the lands of the previous gas factory in Žižkov short time before. The designers were member of a group called Devětsil, young architects Karel Honzík (1900-1966) and Josef Havlíček (1899-1961). The first clerks began to work in the new building since 2nd January 1934.

During 1955-1977 the name was changed to the Square of Gustav Kliment, after the Czech communist politician, who was also a minister of industry for several years after February 1948.

However next changes came, until 1990 the square was named after the previous president of the republic, Antonín Zápotocký (1884-1957), due to the fact that he was a chairman of Central Commission of Trade Unions and a member of the board of ÚV KSČ after May 1945. In the park-adjusted centre of the square there was erected sculpture of Antonín Zápotocký by professor Jan Simota.

After change of the political situation the sculpture of Antonín Zápotocký was removed after 1990 and the square got its final name, hopefully. It was named in the honour of a notable world politician, who had greatly participated in defeating Hitler’s Germany, the previous British Prime Minister, Winston Churchill (1874-1965). A memorial to him was unveiled in the square on 17th November 1999. It is a reproduction of the sculpture, created by Ivor Roberts Jones from the Great Britain.

While the eastern side of the square is formed by the House of Trade Unions, the southern side is formed by a functionalist building of Economic University no. 1938 from 1935. Its design was elaborated by arch. Vratislav Lhota and ing. Mečislav Petrů.