Lake Park offers majestic vistas of Lake Michigan from two levels, the largest portion perched on a 100-foot high bluff. The plan was prepared in 1895 by the Olmsted firm, whose founder, Frederick Law Olmsted, designed New York's Central Park. The firm modeled Lake Park after landscapes of the English Romantic movement, with the idea of a park being a place of beauty and refreshment. Olmsted designed the upper portion of the bluff in a series of open meadows screened from the city with predominantly native trees and shrubs. Paths, carriage drives, roads, and bridges were sited to create compelling lake views. The natural ravines that cut through the steep bluff were kept informal with dirt paths, stone and log steps, and stone retaining walls.

The park features five opulent historic bridges, each placed to provide a scenic vista or create a sculptural counter point to the natural landscape. The Brick Arch Bridge was created by Oscar Sanne in the Renaissance Revival style. It is constructed of brick and limestone, incorporating extensive terra cotta ornamentation, and is the only remaining example of a high style masonry bridge in Wisconsin. The paired Lion Bridges feature eight stone lion sculptures guarding their entrances, A Neoclassical pavilion designed by Milwaukee architect Alfred Clas in 1902, and a formal, Neoclassical limestone staircase leading down the bluff further embellish the park.

The site was used long before the creation of Lake Park. The only known remaining mound within the city limits of Milwaukee is located on the grounds. The mound is associated with the Woodland culture, and Native Americans continue to view it as an important cultural and spiritual place.

Milwaukee County Parks operates Lake Park as a public park.