Historically, the square is an integral part of the small street with the same name, Bialik Street. Both are of course in the name of the national poet Chaim Nachman Bialik. Among them are the music library of Tel Aviv-Jaffa and Beit Bialik itself, the house where the poet lived, since he immigrated to Israel.
Bialik Square is one of the most important heritage sites in Tel Aviv. Despite its tiny size, it was used during the British mandate as a central meeting place in small Tel Aviv. Various ceremonies and municipal events were held, as well as demonstrations against the British Mandate authorities.