Abstract Background Despite increasing interest in the role of parks on children’s health, research on the impact of park interventions is limited. This study uses a quasi-experimental pre-post design with matched controls to evaluate the effects of park redesign and renovation on children’s quality of life (QoL) in underserved New York City (NYC) neighborhoods with predominantly Hispanic and Black populations. Methods Utilizing longitudinal data from the Physical Activity and Redesigned Community Spaces (PARCS) Study, we examined the parent-reported QoL of children aged 3-11 years living within a 0.3-mile radius of 13 renovated parks (N = 201) compared to 11 (N = 197) control parks before and after the park intervention. QoL was measured using the modified KINDL questionnaire, a health-related QoL scale that assessed children’s physical and emotional well-being, self-esteem, and well-being in home, peer, and school settings. A difference in difference (DID) linear mixed model was used to compare QoL between intervention and control groups. Results We found a significant improvement in the physical well-being subscale of KINDL in the intervention vs. control group (DID=6.35, 95% CI = 0.85-11.85, p = 0.024). The differential improvement was strongest among girls (DID=7.88, p = 0.023) and children with parents in the lowest socioeconomic background (education high school or less DID=8.38, p = 0.024; Not employed DID=7.53, p = 0.048; Single/Widowed/Divorced DID=8.67, p = 0.025). No significant differences were found in other subscales. Conclusions Our study indicated a beneficial impact of improving park quality on the physical well-being of children residing in underserved neighborhoods. These findings support investments in neighborhood parks to advance health equity.