The park was opened in 1967 for Canada's 100th birthday by the then-Borough of Etobicoke and was part of the Hirons' dairy farm (the remaining part of the farm was sold for residential development in 1968).[2]
In November 2022, the City of Toronto announced the closure of skiing and snowboarding activities at the park, citing declining use due to the COVID-19 pandemic and mechanical issues with the lifts.[4] Reducing snow cover during winter months may also have factored into the decision,[5] but were not directly mentioned by the city. Earl Bales Park remains the only ski and snowboard centre in the city of Toronto.
In the mid to late 1970s there was a Motocross track at Centennial park, open for riding and also held Motocross races on Sundays. Mike Austin's MRAC Motorcycle Racing Association of Canada ran the races.