The latter invented the non-explosive boiler and founded, along with fellow West'lyan Herman Babcock, the giant engineering firm of Babcock & Wilcox, and was a major funder of the Romanesque Westerly Library, which faces the park and was built in 1892.

[2] Wilcox Park was designed in 1898 by Warren H. Manning, who had been until 1896 an associate of Frederick Law Olmsted, and originally dominated by plants native to the region.

The park contains a number of monuments and memorials including the Wilcox Memorial Fountain (1930), designed by John Francis Paramino and given in honor of Harriet and Stephen Wilcox.

One tree was planted in memory of boxing champion Rocky Marciano.

In 2006 the board announced a plan to restore the park's original character by replacing the many walkways and the aging path lights.