Torvet is the central market square of Hillerod, halfway between the railway station and the castle. The square is paved in cobbles, ringed by 19th-century townhouses, and centred on a small fountain with a sculpture of King Frederik VII. It is the place to start a walk into the old town — narrow streets of two- and three-storey painted houses radiate outwards in three directions, and the Frederiksborg Latin School and old Rectory are within fifty metres.
A small weekend produce market runs in summer; a Christmas market with mulled wine and roasted almonds takes over the square for two weeks in December.