Arnolds Park is in the center of the Iowa Great Lakes resort region. It is home to a historic amusement park, also called Arnolds Park, which features Legend, An ACE Coaster Landmark. Legend, which carried its first riders in 1927, is believed to be the 13th oldest wooden roller coaster in the U.S. In 2012 the amusement park was selected as one of the fifteen best in the Midwest region by Midwest Living magazine.

Other major landmarks of the city include the Central Emporium shopping mall, the Iowa Great Lakes Maritime Museum and the Iowa Rock'N'Roll Hall of Fame.

Located in Arnolds Park is the Abbie Gardner Sharp Cabin Museum, the site of the 1857 "Spirit Lake Massacre", a violent conflict between European settlers and Native Americans. Next to the cabin is Pillsbury Point State Park.