The Soldiers' Memorial is dedicated to the men of Walkerton area who gave their lives in the First and Second World Wars. Mrs. Oswald Lumley, the wife of First World War Veteran, Oswald Lumley, wrote the inscription and the McIntosh Granite Co. Ltd. of Toronto designed the memorial. It is of gray granite and has a three step granite base, with die and cap, on which is mounted a huge statue of a Canadian soldier standing at ease with rifle in hand. The monument is 17 feet high and lists the names of the 49 Walkerton heroes who fell in the war, with the names of the battles where they lost their lives. It was erected on the northwest corner of the Armoury grounds on a raised mound thirty feet square.
The memorial was unveiled on July 23, 1921, in the presence of a great throng of citizens, old boys and visitors. The order of service included a chorus, "O Canada" by the pupils of the Public, Separate and High Schools; Funeral march, 48th Highlanders' Band; Prayer, Rev. Capt. Perdue; Hymns, "O God, Our Help in Ages Past," and "Abide With Me"; Scripture reading out of Revelations, by Rev. Will Todd of Algona, Iowa; a short address by His Worship Mayor McNab; the unveiling of the monument by the honoured guest of the occasion, General Shannon of London, the head officer of this Military District, who in so doing paid an eloquent tribute to "my boys". "The Last Post", was given by a member of the 48th Highlanders, followed by the benediction by Rev. W.H. Burgess and the Dead March in Saul by the 48th Highlanders' Band. After the unveiling a bouquet for each soldier was placed on the monument by the I.O.D.E., a number of relatives brought flowers, a beautiful wreath was presented by the Old Boys' Executive, and the Union Jack, by the Walkerton Horticultural Society.
During the summer of 1982 the Legion Branch constructed the planter around the base of the cenotaph, built and poured the sidewalk from Colborne Street to the front of the monument, had the monument cleaned and the lettering raised, and planted the shrubbery at the base of the cenotaph.
2021 was the 100th anniversary of the poppy as a symbol of Remembrance in Canada. To mark the occasion, members of Walkerton Legion Branch 102 placed 50 painted poppy rocks around the base of the cenotaph, which included one for The Unknown Soldier.