It was originally erected in the 16th century B.C. by the Pharaoh Thutmosis III in honor of the God of Sun Amon Ra in the city of Teb, Egypt, in front of the temple of Luxor. Brought to Istanbul by emperor Theodosius I in 390 A.D. for the decoration of the ancient Hippodrome.
The approximately 19 meter high obelisk is covered on all four sides with hieroglyphic pictograms and stands on a marble base with many friezes depicting the Emperor and his family in the Hippodrome. After decoding the hieroglyphs it has been discovered that last 5 or 6 meters of the Obelisk is missing from the bottom, probably was broken during the transportation.
The Walled Obelisk (also known as Constantine Obelisk) is situated near Serpentine Column at the southern side of the Hippodrome of Constantinople (now Sultanahmet Square in Istanbul, Turkey). The 32 meter-high obelisk was constructed of roughly cut stones by Constantine VII. Its exact construction date is unknown, but it is named after Constantine VII after he repaired it in tenth century.
At that time, it was reportedly decorated with gilded bronze plaques that portrayed victories of Basil I who was grandfather of Constantine VII. Also there was a sphere at the top of obelisk. However, reportedly these gilded bronze plaques were stolen and melted by Fourth Crusaders in 1204. Young Janissaries liked to use the obelisk to climb and show their prowess, the obelisk stone surface suffered further damage to its surface.