At the end of World War I, it was decided that a memorial should be erected in honor of those who would never return. A subscription list was started by the Ancient Order of Foresters and three sites were considered; the corner of Mill Bay and Shawnigan Roads, a location across from the hotel and finally Fisher Road (where it now stands). It was started in 1919 by a Vancouver firm and was unveiled in February of 1920 by Premier John Oliver. Thirty cadets from Shawnigan Preparatory School attended, as well as forty returned soldiers, members of the Ancient Order of Foresters in their regalia and a large crowd of spectators.
The monument was inscribed with 25 names of the fallen. The wrought iron fence and gateway were added by the Foresters soon after and a German field gun and a machine gun were placed in the enclosure. The field gun stood there for 25 years, then was taken away to be melted down for use in the Second World War. It is still unknown what happened in the disappearance of the machine gun. The Cenotaph was revitalized in 2009 under a grant from Veterans Canada.