This statue of Sir George Grey (1812-1898) reflects early twentieth-century civic attitudes to British colonial rule and Maori, as well as to New Zealand's 'founding fathers'. Originally erected in 1904, it depicts Grey standing in morning dress, with a scroll in his hand and a replicated Maori carving to the rear. Grey was an important British colonial diplomat and politician, having been twice governor of New Zealand (1845-1853 & 1861-1868), the last superintendent of Auckland (1875-1876), and the premier of New Zealand (1877-1879). He had also served as governor of South Australia (1841-1845) and that of Cape Colony, South Africa (1854-1861). Grey supported colonial expansion as a way of alleviating poverty in Britain and Ireland, and was an advocate of cultural assimilation between different peoples. In New Zealand, he actively encouraged the Europeanization of Maori and a greater understanding of Maori culture by Pakeha settlers. The monument was commissioned soon after his death, being funded through a combination of public subscription and a government grant. Parliamentary subsidies were unusual at this time, but in this instance official involvement extended to the premier Richard Seddon (1845-1906), who approved the final model. Seddon had entered parliament in 1879, reputedly at Grey's suggestion, and often sought to strengthen his position as leader of the Liberal Party by claiming an affinity with Grey.

The marble statue was executed in England by Francis Williamson, who was a sculptor to Queen Victoria. Its plinth was crafted from Coromandel granite and Tamaki scoria by a firm of local masons, Trayes Bros. The monument contained a number of inscriptions, including a list of Grey's administrative posts and a verse in Maori praising his role as 'shelter of the Maori race' - 'te whakaruru hau o te iwi maori i nga ra i mua'. Originally erected at the busy junction between Queen Street and Grey's Avenue, it was unveiled at a public ceremony attended by a number of national figures. Its location became more prominent after the adjacent town hall was completed in 1911, when many Aucklanders used its base as a meeting point. The monument was transferred to its current position in Albert Park in 1922, partly because it was an impediment to traffic. The park contained other public sculpture, such as a statue of Queen Victoria, as well as several trees that had been donated by Grey when the grounds were laid out in 1882. Retaining its symbolic power, the statue's head was removed by Maori rights protestors in 1986 and replaced with a likeness the following year.

The monument is historically significant for its commemoration of Sir George Grey, who was a major figure in the colonial history of New Zealand and the British Empire. Its creation reflects a number of attitudes in late nineteenth- and early twentieth-century New Zealand, including a respect for founding fathers and representatives of British authority. It is of value for demonstrating the strength of British imperial sentiment within the Seddon government, as well as the general population. The statue is particularly important for reflecting late colonial attitudes towards Maori, including both paternalism and an acknowledgement of separate cultural identity through the employment of Maori-based motifs and te reo Maori/the Maori language. It demonstrates the strength of political feeling during the 1980s, when the nearby university was a focus of land rights protest. Artistically, the monument has been considered less distinguished than other works of the period, but exemplifies a move towards greater realism in public sculpture. Its current location reflects the 1920s 'modernisation' of urban streets in Auckland and the employment of parks as places of public education. The monument has aesthetic value for its parkland setting, and is associated with a number of other historic statues and structures within the park and the surrounding area.