In the early 1700s it was called "Paradeplatz" and served as a training ground for imperial recruits, as well as a venue for military music concerts. An alternatively common but unofficial name in the Austrian period was "Stadthausplatz". In the early 1800s it was known as Prince Eugene Square, after Eugene of Savoy, the field marshal who liberated Timișoara from Ottoman occupation in 1716. It was renamed Liberty Square in 1848, with the outbreak of the Hungarian Revolution, but after the Austrian army recaptured the city, the square returned to the name of Prince Eugene Square. The current name has been in use since 1921.