During the turbulent period of the "Successors", following the death of Alexander the Great (323 BC) and their controversies over the sovereignty of Greece, the new Ptolemaic dynasty, based in Alexandria, Egypt, is sponsoring around 270 BC the construction of a monument in front of the Echo Hall.

In order to promote its leaders in the conscience of the pilgrims of the sanctuary of Olympia, a platform is built about 20m in length and 4m wide and at its corners two Ionic columns were erected of about 9m high, where the statues of Ptolemy II Philadelphus and his sister and wife Arsinoe were placed respectively.

This honorary dedication, one of the brightest of its kind, was dedicated by the commander of the Egyptian fleet Kallikratis to the sanctuary of Zeus, in honor of the royal couple in whose service he was.

Recent evidence suggests that the Ptolemaic dynasty, and indeed Ptolemy II himself was the benefactor-sponsor of Palaestra.

In April 2017, the restored northern column of the Ptolemaic votive monument was inaugurated, completed thanks to the excellent collaboration of the German Institute of Archeology (DAI) with the relevant departments of the Ministry of Culture and Sport and the Ephorate of Antiquities of Ilia, after the courteous sponsorship of the Regula Pestalozzi Foundation