Marikina river park was developed as part of a rehabilitation program called Save the Marikina River Program by the Marikina city government. The program was launched in 1993 and aimed to improve and reduce flooding in Marikina riverbanks for better water discharge after a flood left 25% of the city under floodwater in 1992.
The program involved building access roads to the banks to allow for clearing the banks of informal settlers and other encroachments, cleaning, and clearing operations. Demanding the local industries along the riverbanks to set up water treatment facilities to improve the river's water quality, sports, and other historical structures, and planting various flora and building cultures to draw residents back to the river.
The Marikina River Park is a focal point for the city’s community and cultural activities. It is the site for the annual Mama Mary Fluvial Parade and Festival, as well as the Marikina Christmas Festival. It has an amphitheatre, floating stages, a Roman Garden, Chinese Pagoda, a Gazebo, river boats and picnic grounds. It has sports facilities such as a baseball field, a basketball court and a skating rink.