The park was named after King Carol I of Romania, inaugurated in 1906, on the 40th anniversary of the coronation of King Carol I.
It hosts the Tomb of the Unknown Soldier, inaugurated in 1923 in memory of Romanian soldiers fallen in World War I, was dismantled and moved in 1958 to Mărășești, being replaced by a Mausoleum of the Communist Heroes. The monument was moved back to the park in 1991.
Now you can only see the monument but it is guared by two soldiers and cannot be visited.
The park can be visited year round and every season it has something special to offer.