Founded in 1957, the park preserves remnants of the ancient forest that once surrounded Kyiv, along with a cascade of four lakes stretching along the Orihuvatka River. Seven years after its opening, the park was named in honor of the renowned Ukrainian poet and translator Maksym Rylskyi. In 2003, a monument of him was placed at the main entrance, depicting him seated on a stone bench with a large book on his lap.

Each year, a New Year's tree is traditionally set up near the monument. The park’s main attractions include various art installations and a Ferris wheel, whose cabins offer stunning views. The park is also famous for its friendly squirrels, many of which are unafraid of people.

In 2007, the park became part of the Holosiivskyi National Nature Park.