The monument, in the form of an obelisk, was erected by the survivors of HMS Victoria in memory of those that were lost when the Victoria was in collision with HMS Camperdown in the Mediterranean off the coast of Tripoli on 22nd June 1893.
358 were lost including the Commander in Chief of the Mediterranean fleet George Tryon.
Originally sited in the town square in Portsmouth it now stands in the main walkway of Victoria Park.

There is also a memorial in The Tripoli (Victoria) War Cemetery to six unidentified members of HMS Victoria's crew whose bodies were recovered after the sinking and brought ashore. The Ottoman Sultan of the time, Abdul Hamid II, donated the land for their burial and it has since become a Commonwealth War Graves Cemetery which now has over 1300 casualties from WW2 buried there.