The Chateau, with four wings around a central courtyard and enclosed by a moat on its south and west sides, is situated on the north-west edge of the historical centre, on the line of the original town walls. Construction of the Chateau was probably begun by William of Pernstein in the early 16th century. However, the complete construction was not the work of one builder, but continued in several stages throughout most of the 16th century. Renaissance murals also date from the 16th century and have been partly preserved in some areas of the Chateau. In 1599 the Chateau passed into the ownership of the Lichtenstein family.
In 1643 the Chateau was burned down and definitively lost its residential function. The building gained the present outline of its mansard roof in 1763. After 1848, following the cancellation of the authority of local nobility, the Chateau was auctioned into private ownership. It then served partly for purposes of accommodation, while part of it was used for the requirements of various associations. In 1893 ownership of the Chateau passed to the Prostejov Credit Association of Banks and Pawn-brokers and the north wing was provided with a newly established museum. From 1900 – 1906 the building underwent extensive adaptation which was proposed and probably also carried out by Prostejov builder Cenek Venclik. New sgraffito was painted by Jan Kohler, a graduate of Prague Academy and a student of Professor Zenisek. The Credit Association of Banks and Pawn-brokers owned the Chateau until 1948. The Chateau is now the property of Prostejov Town Council, which is gradually carrying out its renovation.