The amusement park is owned by the Luna Park Reserve Trust, an agency of the Government of New South Wales, and was added to the New South Wales State Heritage Register on 5 March 2010.
The park was constructed during 1935 approximately 600 meters from the Sydney Harbor Bridge, and ran for seventy-month seasons until 1972, when it was opened year-round. Luna Park was closed in mid-1979, immediately following the Ghost Train fire, which killed six children and one adult.
Luna Park is one of two amusement parks in the world that are protected by government legislation; several of the buildings on the site are also listed on the (now defunct) Register of the National Estate and the New South Wales State Heritage Register. The park has been utilized as a filming location for several movies and television shows.