The Algonquin Regiment War Memorial was unveiled on August 31, 1961, and constructed in memory of all ranks of the Algonquin Regiment who paid the supreme sacrifice in the First and Second World Wars. It was dedicated by Major Cecil Hewitt.
In 1952, the idea of a war memorial was proposed at an Algonquin Veterans' Association meeting by James J. Sunstrum, Wib Fischer, and Clem Beauchesne. Money was raised by the Algonquin Regiment Veterans' Association by donations. The memorial cost approximately $10,000 but the land was donated by the City of North Bay. Fundraising efforts were ongoing between 1952 and 1962.
According to Algonquin Regiment Association Records: The monument was constructed from Barre granite VT gray in colour premium. Its measurements from the base to the top of monument are: 8' 4" high. The main base of the monument is concrete 7' 10" x 7' 10" X 7" high. The intermediate base is concrete 4' 2" x 4' 2" x 7" high. The top base is granite 4' 8" x 4' 8" x 6" high and the monument including pinnacle: 8' 4" high. It was designed by students of Algonquin Composite School, North Bay. The contractors were Noon Memorials.
The first Remembrance Day service held at the monument was in May 1962. A Remembrance Day ceremony is held annually on the closest Sunday to the anniversary of the End of Hostilities of the Second World War on May 8, 1945. In 1965, sidewalks and curbs were installed.