The paper analyses historical, compositional and functional values of one of the most frequent open space in central zone of Belgrade - Trg Republike. Based on gathered data from terrain, cartographical and literary data genesis of the space, functionality and composition characteristics were analyzed, as well as degree of the usage. It is concluded that neither degree of functionality nor the compositional value of Trg Republike do not satisfy in full, although the degree of usage is very high, as a result of position in the very center of the town, as well as the important surrounding objects