In 1663, King Frederick III ceded the deer park to one of his courtiers, Jacob Petersen (kammertjener, later rigsbaron).

After his property was then taken over by Ulrik Frederik Gyldenløve, an acknowledged illegitimate son of King Frederick III, it became known as Gyldenlund after its new owner.

Gyldenløve had owned Gyldenlund for some ten years when Frederick III claimed it back in exchange for Skjoldenæsholm at Ringsted.

[4] In 1730, Crown Prince Christian (VI) gave Gyldenlund to his sister, Princess Charlotte Amalie.

The construction took place under supervision of Engineer Officer H. H. Scheel, probably to a design by Johan Cornelius Krieger.

In the middle of the 19th century, Charlottenlund Palace was for many years the home of Louise Charlotte and Prince William of Hesse-Kassel.

The Danish National Aquarium opened in a corner of the park in 1939 where it remained until 2013 when The Blue Planet was inaugurated in Kastrup.

[6][needs update] As of 2019, Charlottenlund Palace is being used for caterings as well as office space for a vast number of companies.