Within the national park is Mount Buffalo, a moderately high mountain plateau, with an elevation of 1,723 metres (5,653 ft) above sea level.

In 1908 a road was opened to the plateau and the park was expanded to 10,406 hectares (25,710 acres); and in 1980 to its current size to take in most of the surrounding foothill country.

Tatra Inn, a lodge located at the west end of the plateau near the cathedral, was destroyed in 2006 by an escaped fuel reduction burn.

Mitambuta and Taungurung people climbed Mount Buffalo in summer to feast on protein-rich bogong moths, and also to meet and hold ceremonies.

Railway tickets were issued for equipment and activities such as "Motor to Wangaratta" and "Skis, steel edged with cane stocks and boots 2nd Grade 8/6-".

[10] In late 2006, during the early stages of the huge 2006-07 Victorian Alps Fire Complex, bushfires raged through parts of the national park.

Bogong moths shelter in rock crevices at the horn and it is common to see birds darting in and out of the cracks to feed on them during the day and bats doing the same at night.

The majority of the plateau is at an elevation of 1,500 metres (4,900 feet), where inverted treelines in valley bottoms give rise to grasslands, with bog and fen communities of Sphagnum and Empodisma in watercourses.

The park also contains a great variety of lichens (which are classified as fungi), many of which are important pioneer species, and some of which are restricted to alpine habitats.

Several hundred fungal species have already been recorded by field naturalists and interested individuals and a list can be found in the Atlas of Living Australia.

Leotia lubrica commonly known as the jelly baby grows in leaf litter, moss and soils in the wetter parts of the park.

The Australian citizen-science organisation, Fungimap is documenting and mapping the distribution of fungi including those that occur in national parks.

Mount Buffalo is a popular destination for road cyclists due to the challenging yet scenic climb to the top of the mountain.