It is named after Major-General Bernard Penfold, the first general manager of the Jockey Club who was in office from 1972 to 1979.

The park is located in the centre (within the track) of the Sha Tin Racecourse with a gross area of over 20 acres.

The chairman explained that the Stewards "considered the beautifying of the in-field with shrubs and trees to be a characteristic example of General Penfold's many achievements".

[3][4] During the years after SARS, there were a few slight bouts of bird flu, and the man-made lakes had been closed a few times to reduce the chance of visitors contracting the diseases.

The Hong Kong Jockey Club had announced that Penfold Park would be closed from the end of July 2007 to April 2008 for the construction of training facilities for the 2008 Olympic equestrian events.