The new playground is behind the football fields to the rear of Gotts Park.
Work on the park got underway in October 2021 and was completed last week.
In the meantime, the council installed a play trail next to the existing park for children to access.
Now, the park has been opened with hundreds of families using it in the first days of opening.
Equipment in the new playground includes a zip wire, play boulders and a platform to appreciate the views across the city from the height of the park.
Due to opposition from some residents fearful of safety concerns, a large black metal fence has been placed next to the park to protect from golf balls from the adjacent course.
The play boulders have been installed, while frames for swings and the zip wire are also in place.
Equipment in the new playground is set to include a zip wire, play boulders and a platform to appreciate the views across the city from the height of the park.
Labour Party Councillor for Armley ward Lou Cunningham said councillors were "overjoyed" to have supported the vision of the park with the Friends of Armley and Gotts Park groups - who have campaigned on behalf of the community.
She added: "It was a delight to hear all the children of all ages playing yesterday and to get direct feedback from them of how great they think it is.
"Special thanks go to the Parks teams and the contractors for the planning and implementation.
"Welcome to Armley Park!"
Support the YEP and become a subscriber today. Enjoy unlimited access to local news and the latest on Leeds United, With a digital subscription, you see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Click here to subscribe.