Martyrs' Monument - the Oxford monument in need of urgent repair - could be on the move.
Some city councillors say it should be transferred from St Giles to Broad Street.
The Martyrs MonumentLast month, it was revealed that the landmark in St Giles is crumbling and has been fenced off to make sure falling masonry doesn't injure tourists or other passers-by.
City councillors have been told it will cost £100,000 to repair the Victorian statue and at yesterday's planning committee they came up with a radical suggestion - moving it to Broad Street.
The monument commemorates the death of three Protestant bishops who were burned at the stake in Broad Street in 1555 and 1556.
Some councillors believe Broad Street is crying out for a 'focal point'. Moving the memorial to the street where the events took place would achieve this. A cross in the road marks the spot where the executions took place.
Cllr Philip Allison said: "The monument has to be taken down to be restored properly. We need to consider whether it should be relocated to Broad Street."
Councillors agreed to apply to English Heritage for Listed Building Consent, which would allow the move.
Tony Joyce, a spokesman for Oxford Civic Society, said moving Martyrs' Memorial to Broad Street would be a welcome enhancement.
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