The park lies on the south bank of the Mapocho River and extends to Balmaceda Avenue in the south, Estación Mapocho Cultural Centre in the east and Quinta Normal in the west.

The name of the park commemorates the 500th anniversary of the discovery and colonization of the Americas, and honours the Spanish royal family.

Estación Mapocho Cultural Centre is located on the eastern edge of the park and Balmaceda 1215 cultural centre, home to the Youth and Children's Orchestras Foundation of Chile, and the metro station Puente Cal y Canto.

In the central zone of the park lies a sports centre that offers free aerobics, aerobox, football and other sport classes every Saturday morning, as well as a 2000 square metre skatepark, considered one of the best in the city.

[1] Between the skate park and Estacion Mapocho lies a 4000 square metre pool and a flea market, known in Chile as a "persa".