The upper section of the stairway was rebuilt and replaced between late 2022 and March 2023, apparently as part of a sewer line replacement project in the area.

Named due to its proximity to the Triumph of Light statue which once prominently stood atop Mount Olympus. The statue was installed by Adolph Sutro in 1887 and removed in the 1950s after deteriorating for years. Today, the statue's empty pedestal still remains at the center of the small park at the top of the hill.

The stairway was likely originally built in the late 1920s, when the park around the statue was improved. The lower section of the stairway at 17th Street that was not rebuilt is part of that original stairway.