It is now one of the largest among the 60 panoramas of the world.
As a work of art, the Sevastopol Panorama is a huge picture (115 m long circumference, 14 m high), supplemented by a subject plan (area of about 1000 sq. m.) and placed in a cylindrical building with a viewing platform in the center.
The building of the Panorama (diameter 38 m, height 36 m) dominates over the Ship and Central parts of Sevastopol, is clearly visible at the entrance to the city from the main land and sea highways. Its majesty is perceived from both close and distant vantage points.
The front of the building with the entrance for visitors faces the pool with a fountain, located on a small square in the center of the Historical Boulevard. Along the central avenue of the boulevard are concentrated the main monuments of the Memorial Complex of national importance (a total of 14 monuments and memorial designations), including the building of the Panorama.
On the first floor of the building there is an exposition hall reflecting the main events of the defense of Sevastopol in 1854 -1855, the history of creation and reconstruction of the Panorama.
From the exposition hall a spiral staircase leads to the observation platform, from where, gradually moving in a circle, visitors can view the panoramic picture and the subject plan.
The panorama is dedicated to the heroism of the defenders of Sevastopol during the Eastern (Crimean) War of 1853-1856. This war was the largest pan-European military campaign of the XIX century. It was fought between Russia and Turkey, Great Britain, France, the Kingdom of Sardinia (Italy), which created a military alliance against it. The participating countries fought for the redistribution of spheres of influence in Europe, in the Caucasus, the Middle East, and in Asia Minor. But since the fall of 1854, the main efforts of the Allies were concentrated against the Crimea with the aim of destroying the Black Sea Fleet and its main base — Sevastopol. The fate of the heroic city on the southern edge of the Russian Empire, whose defenders spent 349 days repelling the onslaught of Europe’s strongest armies, shook the world.
In 1901, in honor of the 50th anniversary of the defense of Sevastopol, it was decided to immortalize the feat of its participants on a pictorial canvas of the Panorama. The government order for the performance of art works was received by Franz Alekseevich Rubo (1856-1928), an outstanding artist-batalist of the late XIX — early XX centuries. 
The work on the Panorama was carried out (1901-1904) first in Sevastopol, and then in Munich, where Franz A. Rubo lived at that time. In painting the painting and creating the subject plan (1902 — 1904), the author was assisted by artists: K. Frosch, L. Schönchen, O. Merte and 20 students of the Bavarian Academy of Arts. In Sevastopol, on the Historical Boulevard, a building for the Panorama was constructed according to the project of a military engineer, Lieutenant Colonel F.-O. I. Enberg, with the participation of architect and artist V.A. Feldman. On May 14 (27) the Panorama «The Assault of June 6, 1855″ was opened for viewing.
During the Great Patriotic War on June 25, 1942 during the Nazi air raid and artillery shelling the building of the Panorama caught fire. During the rescue the artistic canvas was cut into pieces. 86 fragments — 2/3 of the painting — were saved. On the leader of destroyers »Tashkent» they were taken to Novorossiysk, the final point of transportation — Novosibirsk. 
In the post-war years the question of restoring the panorama was solved. Academicians of painting and experienced restorers examined the saved fragments and decided «to consider it inexpedient to restore the Panorama from the old fragments with the addition of new painting in the missing places». The restored fragments were to be used as a basis for recreating the Panorama on a new canvas.
Academician of painting Vasily Nikolaevich Yakovlev (1893-1953), Professor Pavel Petrovich Sokolov-Skalya (1899-1961) and 17 Moscow artists worked on the reconstruction of the Panorama from 1951 to 1954. The building of the Panorama was restored and reconstructed with modern equipment according to the project of the Sevastopol architect V.P. Petropavlovsky (1918-2000). On October 16, 1954 by the 100th anniversary of the heroic defense the Panorama was reopened under the new name «Defense of Sevastopol 1854-1855».