Completed in 1936 after 9 years work, the monument originally memorialized the dead sailors from the Kaiserliche Marine in World War I, with the dead sailors from Kriegsmarine in World War II being added after 1945. It was rededicated to commemorate the sailors of all nationalities who died during the World Wars in 1954.

The monument consists of a 72 m (236 ft) high tower topped by an observation deck. The deck stands a total 85 m (279 ft) above sea level.

The tower was designed by architect Gustav August Munzer.