Designed in the same style as the Piazza San Marco in Venice, the highlight of the square is the Morosini Fountain, built in 1628 by the Venetians and named after the Venetian governor during that time. The lions on the fountain pre-date the rest of the structure by 100 years.

The fountain was built to commemorate an impressive Venetian construction which brought drinking water to Iraklion from Mount Youktas, a distance of 15km. The aqueduct is still evident in Fortetsa and Karidaki (See Fortetsa). It is decorated with coat of arms and scenes from Greek mythology.