Abstract: A multiterawatt facility Baikal is now under construction at Troitsk Institute for Innovation Fusion Research, Russia. Once finished, it will become the worlds largest pulsed-power driven facility for thermonuclear fusion and high energy density physics research. The technical scheme and output parameter of the facility Baikal have been revised several times since the project was proposed. The historical background of the conceptual design of the facility Baikal along with its development, evolution and present research progress are comprehensively reviewed. The structure of major parts of the facility as well as their parameters and capabilities are analyzed and evaluated in detail.