Yusupovsky Garden was laid out in the 1790s on the territory of the estate of Prince B. G. Yusupov on the section between the Fontanka River and Sadovaya Street. The total area is 4.3 hectares. The garden had regular planning, included ponds and canals. At the end of the 18th century, the garden was transformed into a landscape garden with garden constructions, artificial hillocks and a big artificial pond (preserved) by order of Prince N. B. Yusupov. In 1810, the estate of Yusupov was purchased by the treasury for the purpose of housing the Institute of the Corps of Engineers of Transport Communications.

In 1836-40, an ornamental fence was installed on the side of Sadovaya Street. It was designed by engineers of the factory of San Galli V. Trofimovich and K. Kolman. In 1863, the southern part of the garden facing Sadovaya Street was given to the jurisdiction of the city administration and was opened for the public under the name Yusupovsky Garden.

In 1865, the first public skating rink was arranged here (see Skating Rinks). The first school of figure skating was opened here in 1887. Russian and European championships in figure skating and speed skating have been regularly held on the skating rink of Yusupovsky Garden since 1890. The first ever Soviet school of figure skating was opened in 1920. The first ever USSR championship in figure skating was held on the skating rink of Yusupovsky Garden in 1924.

Yusupovsky Garden was called Children's Park of Octyabrsky District from the end of the 1920s. The historical name was given back to the park in 1990.