The square was founded during the settlement of the Old-Tatar settlement in the 17th century. It was built on the site of the first wooden buildings, mostly stone buildings according to the city master plan in 1782. During the revolution, mass rallies, meetings and manifestations of the Tatar population were held on the square. In Soviet times, a monument to Mullanur Vakhitov, the main Tatar revolutionary, was erected on the square (it has not survived to the present day), and mini-squares were broken everywhere. In 1986, the square was renamed in honor of Gabdulla Tukay, after eleven years of Yunusovskaya Square its historical name was returned. In the 1960's and 70's. on the place of dilapidated buildings they built a cinema named after. Tukaya and residential buildings "Khrushchev", which were demolished in the 2000s. and built up with modern low-rise buildings and shopping complexes. At the same time the cinema was closed and destroyed, in its place it was planned to build the theater and concert center of the KVN "Four Tatar", but in connection with the crisis the construction is not finished to the present day. Among the sights on the square is the most beautiful building of the Old-Tatar settlement, built for Ibrahim Apakov, popularly it is called "Shamil's house".