[2] Initially opened by entrepreneur Eddy Meeùs in 1975, Walibi expanded into a chain of six amusement parks located across Belgium, France, and Holland.

[5] In December 1997, with an interest to enter the European market and to compete with rival Disneyland Paris, the US-based Premier Parks (later Six Flags) announced that they would purchase a controlling stake in the Walibi Group from Eddy Meeùs.

For 1999, Premier added three new attractions to the park intending to make it the flagship of Six Flags' European operations.

[18] Following financial difficulties and other issues, Six Flags announced the sale of their European Parks division to an undisclosed buyer on 15 March 2004.

[20][21] On April 16, Palamon announced that the park would rebrand back under the Walibi name for the 2005 season, following a fan-cast polling vote.

These characters would appear in Walibi Folies, which would rebrand from Bugs Bunny Land, while the 3D cinema would replace the Looney Tunes show with SpongeBob SquarePants 4-D.[24] Walibi's promotions director Dominique Fallon had proclaimed that former owner Eddy Meeùs had cited the Six Flags rebranding as a "mistake".

[29] During 5 Saturdays in a row in July and August, Walibi Belgium has their late night openings.

One of the events the park is known for is Halloween, traditionally during the last weekends of October and autumn holiday in Belgium.

During Halloween, Walibi Belgium transforms into hell on earth with scary entertainment and other festivities.

The haunted houses the park offers are nowadays known for their often strange locations and aggressive and violent actors.