On 1 March 2022, during the battle of Kharkiv in the Russian invasion of Ukraine, the square and the surroundings were hit by Russian missiles.

Originally named Veterinarnaya square, its name was changed to Maidan Dzerzhynskoho (Ukrainian: майдан Дзержинського) in 1926, following the Soviet takeover of the city. This name refers to Felix Dzerzhinsky. It is depicted on maps of Kharkiv of 1938.

During the brief German occupation the name of the square changed twice: in 1942 the square was named German Army Square, and in 1943 Leibstandarte SS Square. After the independence of Ukraine it was named Freedom Square.

The main part of the square is bordered to the west by the site of a removed statue of Lenin, to the east by Sumska Street, to the north by the Hotel Kharkiv and to the south by Taras Shevchenko Garden [uk]. It is approximately 690–750 metres (2,260–2,460 feet) long and 96–125 metres (315–410 feet) wide. The area of the complete square is approximately 12 hectares (30 acres).

A notable landmark of the square is the Derzhprom building, a prime example of constructivist architecture.

The Kharkiv regional state administration is situated at one end of the square.

A monumental statue of Lenin was erected in 1964 and was torn down by protesters on 28 September 2014. In August 2016, pavers were laid on the site where the statue of Lenin stood. A new fountain on the site of the former statue was opened on 23 August 2020.

In 2019, the reconstruction of the Round Square, located in the northwestern part of the square, began. It is planned to reconstruct all the paths, install benches, upgrade lighting, plant trees, and install a dry fountain. The work is expected to be completed by the city's day on August 23, 2019.

During the Russian invasion of Ukraine on March 1, 2022, the square was attacked by Russian Kalibr missiles. The explosion severely damaged the Kharkiv Regional State Administration building and nearby buildings.

In 2014, the square was the site of demonstrations by pro-Russian and pro-Ukrainian activists in Kharkiv. The issue was the statue of Lenin, which was fiercely defended by pro-Russian demonstrators against pro-Ukrainian activists' attempts to dismantle it.

Queen + Paul Rodgers kicked off their Rock the Cosmos Tour at Freedom Square on 12 September 2008 & gathered 350,000 audience members, the show was recorded for a DVD release, entitled Live in Ukraine, which was released on 15 June 2009.

From 2010 to 2013, it hosted an annual military parade in honor of Victory Day with the participation of the troops of the Kharkiv Garrison, military academies located in Kharkiv and troops from Russia.

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  Freedom Square, Kharkiv in 2003, showing half of the square area (only the circular neighbouring park on the north-western edge). The square proper begins at the large statue of Lenin (this statue has since been removed). This statue of Lenin is seen in the lower right corner, casting a long shadow which points into the square.
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  The vacant plinth where the statue of Lenin stood before it was pulled down on the night of 28 September 2014.
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  New Year, 2009
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  The square, then called Dzerzhinsky Square, in 1943

Wikimedia Commons has media related to Svobody Square, Kharkiv.

• Freedom Square events
• Kharkiv Square Webcam

50°00′16″N 36°14′00″E / 50.00444°N 36.23333°E / 50.00444; 36.23333