The Marold Panorama has stood on this site since 1908, though only from 1934 in its current form. The original circular pavilion, created for the placement of the large Marold canvas, was made out of wood. The idea of creating a panoramic picture of the Battle of Lipany originated in 1897, when Luděk Marold returned from Paris and offered the Praesidium of the upcoming exhibition of architecture and engineering that he would paint an unconventional picture. The idea was accepted and the work on the painting began on 7 February 1898.

The painter Karel Rašek, landscape painter Václav Jansa, scenic artist Karel Štapfer, colourist Theodor Hilšer and horse painter Ludvík Vacátko worked with Luděk Marold. The panorama was also supplemented in the foreground with real objects (e.g., a Hussite cart), which gave the overall illusion of three-dimensional space.

Ten years later, in 1908, the newly-constructed building was presented as part of the Jubilee Exhibition of the Chamber of Commerce and Trade. The wooden structure of this pavilion, however, could not bear a large amount of fallen snow, and it collapsed in 1929. The damaged painting was restored at that time by Bohumír Číla. The current appearance of the building dates back to 1934, when the five-hundredth anniversary of the Battle of Lipany was celebrated. Further restoration work was carried out in 1964, 1991 and so far for the last time in 2002–2004.