Over 100 bird species have been recorded in the park. Black Swans and Pacific Black Ducks are common, both feeding and breeding in the park.
Wetland species found include:
- the Cattle Egret
- Common Tern
- Eastern Curlew
- Great Egret
- Pomarine Jaeger
- White-throated Needletail.
Native mammals, reptiles and amphibians in the park include Common Bent-wing Bats, Common Brushtail Possums, Glossy Grass Skinks and Common Froglets.
Albert Park contains four wetland areas, three within Albert Park Lake and one in the Corroboree tree area.
The two native vegetation communities in the park are Grassy Wetlands and Plain Grass Woodlands.
The most significant areas of vegetation are on Gunn Island and around the Corroboree Tree. The islands at the north end of the lake provide habitats for native wildlife such as wetland and migratory birds.