Designed by architect Philipp Hoffmann, who also supervised the construction, and sculptor Hermann Schies, the Waterloo memorial on Luisenplatz is made of light-colored sandstone in the shape of an obelisk. It rises on a cubic, multi-level pedestal, the top crowned by an exploding grenade. It commemorates the victory over Napoleon at Waterloo in 1815 and the Nassau soldiers who fell in this battle. The Waterloo memorial was unveiled on the 50th anniversary of the battle on June 18, 1865 in the presence of around 700 veterans.

The names of 337 fallen soldiers are engraved on the sides in alphabetical order by office. Sculptural emblems made using the zinc casting process adorn the upper part of the obelisk on all four sides. On the east side, they show a laurel wreath with an "A" for Duke Adolph, a crown above it and a second laurel wreath with the inscription "June 18, 1865" below it. The west side is similarly decorated, except that the upper wreath contains a "W" for Duke Wilhelm and the inscription "June 18, 1815" at the bottom. The south and north sides have the same motifs in the upper area, with the only difference being that the letters "FA" for Duke Friedrich August and "FW" for Prince Friedrich Wilhelm are attached. The emblems below are also made using the zinc casting process and show compositions of flags and weapons, each with the Nassau coat of arms in the middle.

The idea to erect the monument came from the Wiesbaden Beautification Association, the initiative was taken by the Nassau generals Anton von Breidbach-Bürresheim, Carl Friedrich Hergenhahn and Friedrich August Weiz. On the initiative of the local advisory council, a plaque with the inscription "The dead admonish peace" was placed at the foot of the monument on the west side in 1989.