Caroline Bay is the most widely known of all the parks in the Timaru District. When speaking to some from outside Canterbury about Timaru they will usually mention Caroline Bay, whereas locals will often refer to it as 'The Bay'.

The beach is sheltered by the harbour breakwater and is the only sandy beach between Oamaru and Banks Peninsula. March 2014 saw Caroline Bay beach being voted the most popular beach in the South Island.

Allied with the popular swimming beach is the annual summer carnival run by the voluntary Caroline Bay Association. The carnival has been operating for over a hundred years and draws people from around much of New Zealand to attend or assist with its operation. The carnival is a traditional family  affair with free concerts, rides and sideshow style games.

Caroline Bay itself is located between the Pacific Ocean and the Timaru Central Business District, being separated from the main shopping area by the South Island Main Trunk Railway lines. The Piazza straddles the railway line and provides access for pedestrians via a grand staircase or via a lift  which is unique for a public park in this country. Caroline Bay covers an area of 34 hectares excluding the beach.