The square was originally a candle factory. In 1999 the square was renovated by the design Swedish landscape architect Sven-Ingvar Andersson. Among other things an underground parking lot and supermarket were built. Starting in the 19th century, this area houses many impressive museums. This is how the square got the name, "Museumplein," the museums here are: Amsterdam National Museum, Van Gogh Museum, Stedelijk Museum, and the Diamond Museum.
In the square you can see a large lawn area where concerts are held, as well as protests, markets, and public events. The pool at the center of the square becomes an ice rink each winter.