It appeared in 1972 together with the opening of the Praleska shopping center. The architect is Max Shleimovich. Initially, the appearance of the fountain was different. A fountain was built on a vast area, in the center of which there were devices for spraying water jets, covered with brass cylinders. The parapet was lined with ceramic tiles, as well as mosaic images of marine life. In this form, the fountain existed until the early 1980s, when the pipes with cylinders were dismantled, and a sculpture of Neptune by Lev Oganov was installed in their place. In the 1990s, Neptune fell into disrepair and did not work for some time. Nowadays, the fountain is functioning again and pleases the citizens with its appearance.