The obelisk belonged originally to pharaon Ramses II, it was then brought in Rome in 37 d.C. by Caligula near this location, where at that time there was the (lately called) Circus of Nero.
In 1586 pope Sistus V issued the transportation of the obelisk in the current location, for which 90 winches, 900 workers and 140 horses were needed.
On the top of the obelisk behind the cross, a relic of the original Christ church is preserved.