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This park, which first opened in 1970, can be found in the Plaza de Colón close to Madrid's Golden Mile or 'Milla de Oro', Calle Serrano, as well as El Paseo de la Castellana, El Paseo de Recoletos, la Calle Goya, the National Library and the National Archaeological Museum.

The park covers an area of 1.87 hectares and is dedicated to the discovery of America. It is home to a monument that commemorates this historic event, created by Joaquín Vaquero Turcios. The monument is situated on a reservoir and is made up of three large concrete columns with relief motifs related with the discovery. It was erected in 1977, when the remodelling of the Plaza de Colón was completed, and the Cultural Centre now known as the Fernán Gómez Cultural Centre was inaugurated.