The Hippodrome was laid out in the 19th century in the wake of the partial remodelling and extension of the gardens by Theodor Klett to the designs of Peter Joseph Lenné. In contrast to the normal function of grounds of this kind the Schwerin Hippodrome was never used as a racetrack for horses.

The Hippodrome became overgrown but was cleared and restored for the German Garden Exhibition of 2009.