Settled as early as 1876, the community is centered along the eastern terminus of H-58 and County Road 407 along the shores of Lake Superior.

At the town's peak, it had a population of 400 people, making it one of the largest white pine logging communities.

[3][6] In 1892, the propeller SS Western Reserve sank about 35 miles northwest of Deer Park with the loss of all but the wheelsman.

[7] In 1907, the SS Cyprus sank north of Deer Park; all but one of its crew members died.

Since the 21st century, it has remained an unincorporated community, also containing a lodge and a general store, which primarily cater to visitors to the state park.