The park has a long historical connection with the military. It was used as a training ground for the local militia; a parade ground for thousands of soldiers stationed here during the Fenian raids of 1866; a marshaling ground for troops; a gathering place for troops before being sent off to war; a place for citizens to hold services to pray for the safe return of their family members; a place to celebrate when the soldiers first returned home from war; and a place to honour all those who served and sacrificed.
In October 1998, following a proposal by Mayor Mike Bradley, Sarnia City Council passed a motion endorsing that Victoria Park would be renamed Veterans Park, to reflect the history of the park and as a way to honour those who served. On Remembrance Day 1998, the park officially became known as Veterans Park.
In late 2015, a committee of volunteers led by Lou Giancarlo and Tom Slater, brought forward the idea of creating a storyboard in Veterans Park. With support of Sarnia 1st Hussars Association and the City of Sarnia, the committee along with sign-maker Ken Hall, designed a storyboard that was installed in late October 2016. The storyboard provides a brief history of the park itself, and information on all of the military artifacts in the park. Along the bottom portion of the storyboard are eight photographs representing the wars commemorated on the memorials to the fallen in Veterans Park–the Boer War, First World War, Second World War (Army, Navy and Air Force), Korea War and Afghanistan.
In August 2018, a new Veterans Park sign was added to the Park. It was created by Dave Beatty and paid for by Communities in Bloom Committee.