Originally, the square was called Caravanserai Square (Hotel Square), as it was located right in front of the city's entrance.

After joining the Russian Empire, the square began to be developed, and in 1827 it was named after the victories of General and Governor of Georgia Paskevich-Erevansky (who, in the same year, defeated the Turks in the Erivan Khanate and captured the fortress-city of Erivan) - Erivanskaya Square. The square served as an important transportation hub and the center of various events. In the 1880s, the square was paved with cobblestones, which remained there to this day.

For many years, Freedom Square has witnessed significant events and transformations that shaped Georgia's history. In the early 20th century, the square became a symbolic place for political rallies and meetings, as well as a center for cultural and artistic events. It was on this square in 1907 that a group of Bolsheviks led by Stalin (who did not directly participate) attacked the State Bank carriage.

One of the most important moments in the history of Freedom Square was 1918, when Georgia declared its independence. The square became a symbolic place for the proclamation of the First Georgian Republic. In 1921, the Bolsheviks entered Tbilisi, but the square retained its name until 1938, when it was renamed Beria Square. And in 1953, it became Lenin Square.

After the collapse of the Soviet Union in 1991 and the restoration of Georgia's independence, the square regained its historical name and underwent further reconstruction. Architectural changes made during the Soviet era were gradually reversed, and Freedom Square began to restore its historical appearance.

In recent years, Freedom Square has been the site of numerous protests, demonstrations, and public events. It serves as a venue for political rallies, cultural festivals, and the celebration of national events.