The park on land reclaimed from Lake Burley Griffin at Acton will be named Ngamawari, a Ngunnawal word that means "cave place".
The name was presented to the ACT government at a ceremony at the site of the park on Thursday morning, and acknowledges the significance to traditional custodians of limestone caves that were flooded when Lake Burley Griffin was constructed.
Ngunnawal elder Caroline Hughes said Ngamawari celebrated and educated everyone about Ngunnawal country, history and language.