The Governor and the Captain General Miguel Tacón (1834-1838) ordered to erect a fountain at the coastline close to the harbor that would supply drinking water to the ships and boats. It should have also a monumental character, thus contributing to his project about beautifying the city. It is argued that in fact the fountain was a part of a more comprehensive project that included a stone pier, called Muelle de Comercio, and a breakwater.

The fountain with the statue of Neptune, the god of freshwater and the sea in Roman belief, was brought from Genoa, Italy in 1836, and placed in front of the Castillo de la Punta on the edge of the coast. However, the assembling process of the fountain with the statue took time longer than expected, so that the inauguration of the fountain took place in the time of his successor Joaquin Ezpeleta in 1839.

The surrounding of the fountain was designed as a place of relaxation, where people would enjoy the view of the sea, particularly the sunset on the evenings, sitting on one of the six marble benches around the fountain. The fountain with the statue was surrounded by an iron railing attached to the pier. It was designed as capable of providing drinking water through the pipes to three small boats of the Captaincy and the Royal Treasury at the same time. For this purpose, large bronze rings were placed for the mooring of the ships on the edge of the coast.

Over the years the fountain lost its role as water provider, and deteriorated. The most important mishap was the crash of the American brig JB Hautington in 1845, in that some of the marble benches and a part of the railing around the fountain were destroyed. In 1871 the city council decided to transfer the fountain to a safe place, thus the tour of the fountain throughout the city started. It was moved first to Alameda de la Reina Isabel Segunda (current Paseo de Martí), then to the Parque de la Punta where it stayed until 1912, when it was replaced by the statue of José de la Luz y Caballero. The fountain with the statue was stored in the Municipal Warehouse. In 1916 the first director of the National Museum of Havana took the dusty and forgotten statue with its pedestal to the institution to decorate the gallery on the ground floor. Two years later Colonel José Ramón Villalón, the Secretary of the Ministry of Public Works, moved it to the Parque Gonzalo de Quesada, popularly known as Parque de Villalón, located on Calzada between the streets C and D in Vedado in 1926. Unfortunately, the trident of Neptune was broken, and the fountain had lost its function as water supplier. In 1997 it was moved to its current location after a meticulous restoration.

Everyone in Havana calls the fountain as Fuente de Neptuno, although its initial name was Fuente de la Princesa, as it was brought to Havana in commemoration of the oath as princess of the future Queen Isabel II. Therefore, when the transfer of the fountain was decided, Alameda de Isabel II (current Paseo de Martí)) was the first localization that came in mind. The fountain was also known as Fuente del Comercio, Fuente de Tacón, or Pila de Neptuno. The Fuente de Neptuno should be not mixed with another fountain with similar name that was called Neptunito due to the smaller size of its Neptune statue. It was located at the intersection of Alameda de Isabel II and San Antonio (current Neptuno) streets, but it was demolished in 1840.

The fountain and the statue are made of white Carrara marble. They have an approximate weight of six tons. The fountain has a square base with the statue in its center. The lower part of the pedestal supports on its four sides three shells of different sizes, the upper ones being the smallest ones. Above the shells, there are the embossment of Triton, from the mouth of which jets of water fall into the shells. Triton is a mythological Greek god, the messenger of the sea. He was the son of Poseidon and Amphitrite, god and goddess of the sea respectively. He is usually represented as a merman that has the body of a human at his upper part, but the tail of a fish caudally.

On the large pedestal stands the life size statue of Neptune, the god of freshwater and the sea in Roman belief. He is also the counterpart of the Greek god Poseidon. He is dressed as usual in Roman Empire. His left hand is at his waist, while he holds a trident with his right hand. The trident is a three-pronged spear that was used for spear fishing, as well as decorticator by the farmers to remove the leaves and seeds from the stalks of some plants. Some gladiators were also using the trident along with the net. The trident is the weapon of Neptune and Poseidon. It is blamed that Neptune was using it also to cause earthquakes. During the restoration process of the statue the absent original trident was replaced by its replica, following the original proportions. The fountain is placed on a promontory at the seashore, so that the square around it is convenient to enjoy the sunset at a romantic evening.