Memorial Provincial Park was originally the site of the University of Manitoba’s Faculty of Science. When the University amalgamated its campus in the Fort Garry location in the 1950s, this site was slated to become the home of the new city hall for Winnipeg. Noting the presence of a First World War cenotaph on the site, a number of Legion branches petitioned for the site to instead become a memorial park. In addition to the First World War cenotaph, the park would recognize the sacrifices made by Canadian Military personnel during the Second World War.
In 1961, the province, which already owned an adjacent parcel of land, acquired the site from the city. Former premier Duff Roblin envisioned Memorial Provincial Park as "a fitting tribute to those who gave their lives for Freedom”. The provincial park, including the City Hydro Fountain, is recognized as a Canadian military memorial. Memorial Park was dedicated on September 28, 1962 by Lieutenant Governor Errick Willis and Premier Duff Roblin.
Military memorials in the park include the Stephenson Monument ‘Intrepid’, Women’s Tri-Services Monument and Peacekeepers' Cairn. The Centennial Flame, British Commonwealth Air Training Plan Memorial – Airmen in Training, Cenotaph and flag poles are located outside the park on the Memorial Boulevard center median adjacent to the park.
The City Hydro Fountain is a landmark attraction within the park. The original water feature included a central mechanized fountain, which included sweeping waterscapes and light shows that alluded, in colour and movement, to the northern lights. In 2021, the fountain was reopened after being restored through 2019 - 2020 as part of the massive refurbishment project for Manitoba's 150 celebrations in 2020.