The park commemorates the heritage of the world's preeminent whaling port during the nineteenth century.

Established in 1996, the park encompasses 34 acres (fourteen hectares) dispersed over thirteen city blocks.

The park is a historic district administered under a partnership between the NPS, the City of New Bedford and private building owners to preserve the historic landscapes, structures, and collections and promote research and educational programming associated with the history of whaling.

The enabling legislation also established a formal affiliation with the Iñupiat Heritage Center in Utqiaġvik, Alaska, to commemorate the more than 2,000 whaling voyages from New Bedford to the Western Arctic.

The city promotes visitation to the park through advertising that calls it "New England's real seaport", as opposed to Connecticut's Mystic Seaport Museum which is a collection of historic buildings and vessels moved from various other locations throughout the region.