The Kaiser Friedrich monument, created by the sculptor Joseph Uphues, shows a larger-than-life, 3.80 m high bronze statue of Kaiser Friedrich III (1831-1888) in the uniform of the Pasewalk cuirassiers with a marshal's baton in his right hand. The left hand is resting on a sword. The Kaiser Friedrich monument was unveiled on October 18, 1897, Kaiser Friedrich's birthday, in the presence of Kaiser Wilhelm II, the wife of the deceased, Empress Friedrich, and other members of the imperial family. City architect Felix Genzmer had designed an original festive decoration for the unveiling of the monument. It consisted of the imperial tent for the imperial highnesses present at the unveiling, an elaborately designed canopy that spanned the entrance, as well as side halls, stands and a "cloak" for the monument.

Emperor Frederick, who had visited Wiesbaden several times as crown prince, enjoyed great popularity in the city. In response to the appeal for donations for the monument, over 50,000 marks were received within a short space of time. However, there were also disagreements over the fate of the Schiller bust, for which the pedestal on which the statue of Emperor Friedrich was now mounted had been erected in 1866. There was a surplus of around 3,300 marks left over from the donations for the Kaiser Friedrich monument and 5,658 marks were raised from the sale of grandstand tickets for the unveiling celebrations. These funds formed the basis for financing the new Schiller monument erected at the back of the theater in 1905.