The 394-acre (159 ha) park is along the sandstone and limestone bluffs of the Wapsipinicon River, from which it derives its name.

[2] The initial 180 acres (73 ha) for the park was donated by a local citizens group that raised around $23,000 in 1921 to buy the land in order to preserve it and to keep the timber from being logged.

[4] The park has several archaeological sites where evidence of Pre-Columbian era societies lived.

Unlike many state parks in Iowa from this era that had their facilities built by the Civilian Conservation Corps, a public work relief program during the Great Depression, Wapsipinicon's facilities were constructed by prisoners from nearby Anamosa State Penitentiary.

Trails are provided for hiking, cross country skiing and snowmobiling.