In the past Victoria Park featured a cycling track, tennis courts, and a baseball club that once played curtain raisers to football matches.

Victoria Park was established in 1879 on Dight's Paddock by Frederick Trenerry Brown and David Abbot as part of the planned Cambellfield Estate.

This grandstand would provide state-of-the-art facilities for players of both the Collingwood Football and Cricket Clubs and also seated approximately 3,000 supporters.

For many in the area, to see the Magpies win at Victoria Park was the only relief from melancholy of daily life on the unemployment queue; the football club offered sustenance workers free entry to games during this period.

[11][6][7] The park's record attendance was set in April 1948, when 47,000 spectators witnessed Collingwood defeat South Melbourne.

The maximum seven-year leases granted by local governments did not give the football club enough security of tenure to proceed with the grand plans that were being laid down.

Within weeks Carlyon returned to the council with the very same proposal and a handful of social club memberships which turned the vote 14–1 in favour and Collingwood was then set up with control of its own home ground until 1996.

The move was a success financially for the club, as it unlocked better exposure to the public: these venues had light towers enabling games to be played at night to boost television audiences and attendances.

[3] The 928th and final match of top level senior football (48 in the VFA and 880 in the VFL/AFL) at Victoria Park was played in the last fixture of the 1999 home-and-away season between Collingwood and the Brisbane Lions.

[11][6][20] Collingwood lost the final game at Victoria Park to Brisbane by 42 points, and finished with the wooden spoon for just the second time in their history.

[21] While Collingwood were scaling down their presence at Victoria Park, the Victorian Football Association staged their 1994 and 1995 finals series at the ground.

[5] Collingwood also used Victoria Park for their training sessions leading into the 2002 and 2003 AFL Grand Final matches.

[6] In 2009, the City of Yarra council voted to allow Collingwood's VFL team to recommence matches at Victoria Park.

[26][6] In May 2020 a $2 million upgrade to some of Victoria Park's facilities commenced, financed by the Victorian Government, City of Yarra, AFL and Collingwood.

The Sherrin Stand was refurbished and suitable changing rooms and recovery facilities were constructed for the club's female footballers, allowing the women's teams to base themselves at the ground.

[27][6] The interior of Victoria Park is shaped in an oval, almost a circle, to fit with the boundaries of the playing field.

[1] The ground record crowd for the oval was set on 26 April 1948 when 47,224 turned out to see Collingwood defeat South Melbourne by 53 points.