The park was created in 1931 and was opened to public in 1932. It was based on the Elagin Palace Park, which was built for the Empress Maria Fyodorovna and contained an Imperial summer residence surrounded by fields and woodland. After the opening the park was improved with flower-beds and green spaces added alongside it, and sculptures and decorative vases. There was also built an open-air theater in which musical concerts and other entertainments were held. In the period of Second World War defense equipment was installed in the park and removed only in 1944. For the next 20 years, the park was restored. The Elagin Palace was reconstructed, new trees and bushes were planted, and many of the buildings in the park were rebuilt.

Today the Park provide citizens of  the city with  different attractions such as going on a boat trip or horse riding, or just to walk along the picturesque alleys. Particularly beautiful is the western tip of Elagin Island, which in 1926 was remodelled as a granite terrace, "guarded" by statues of lions on high pedestals.