The castle is now a museum, and is still inhabited by Carl-Anton, Prince of Waldeck and Pyrmont, and his family.
As a result, it continues to serve as a residence of the former ruling family of the Principality of Waldeck and Pyrmont.
It was the birthplace of Princess Emma of Waldeck and Pyrmont, who became the Queen consort of the Netherlands during the late 19th century.
Built in 1840, the Fürstlich Waldecksche Hofbibliothek (Princely Waldeck Court Library) today contains virtually all literature of the 18th century in relevant fields of knowledge.
In 1992, Jeff Koons created a 13-metre tall topiary sculpture called the Puppy to be displayed at the castle's park.