The Art Deco monument was designed by C. Bruce Dellit, with the exterior adorned with monumental figural reliefs and sculptures by Rayner Hoff, and built from 1932 to 1934 by Kell & Rigby.
The memorial is the focus of commemoration ceremonies on Anzac Day, Remembrance Day and other important occasions. It was built as a memorial to the Australian Imperial Force of World War I.