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Liberty Park is located in the center of the Old Town of Ostashkov, near the eastern shore of the peninsula. Nowadays, most of the Liberty Park is occupied by flower beds. On the shore of the lake in front of Liberty Park is the small harbor, from where excursion ships depart along Seliger. 

Until the 1950s, this place was the main Trade square of Ostashkov. It was surrounded by Shopping malls. In the center of the square was located the Transfiguration Church. It was built in 1789 in the style of Peter the Great Baroque. A three-tiered bell tower with a clock on the upper tier towered over the church. In 1928, the Bolsheviks destroyed the church, but the bell tower was preserved. Now it is located in the center of Liberty Park, as an architectural monument of the 18th century. The shopping galleries were demolished in 1950. 

In 1958, a monument to the Partisans of the Great Patriotic War and a Wall of Glory were erected in Liberty Park. The front line during the WWII ran along the western shore of Lake Seliger. The city of Ostashkov was under the control of the Russian army on the very front line, so the residents of Ostashkov actively conducted partisan activities in these parts. A native of Ostashkov, Konstantin Zaslonov, led all partisan detachments on the territory of Belarus. 

On the side of the harbor in the Liberty Park there is a monument to Lenin. There are preserved buildings of the 19th century, which used to house shopping galleries and warehouses, but now they all need restoration. On the other side of the park (behind the bell tower) there is a cinema, a cultural center and a small pond.