Cannon Park became the site for racing after the Cairns Jockey Club's long search for a home, which saw them attending places such as Eightmile near Wrights Creek. Cairns Jockey Club—which has been operating from 1884—secured land from William Cannon in 1909. After extensive clearing and draining, the track was opened in 1911.
The site has been used for various forms of horse racing and at one time motorcycle racing on the circular track. Sites around Cairns had been set aside for horseracing (including the Anderson St Cemetery and at Dwight's Creek), but it is Cannon Park which has had the longest use of circa 100 years. The sites early buildings have since been demolished such as the original grandstand which was replaced in 1971.