As cities expand rapidly, the combined effects of urbanization, global warming, and the intensification of the Urban Heat Island (UHI) phenomenon have become more challenging for urban environments. In response, Urban Green Infrastructure (UGI) has gained attention as a practical and effective tool for mitigating UHI and improving climate change. Among various UGIs, urban parks have been the subject of numerous studies due to their proven ability to reduce air and surface temperatures, improve local microclimates, and enhance overall urban livability. This systematic review synthesizes the existing body of research to identify key factors that influence the cooling performance of urban parks. A total of 131 peer-reviewed studies between 2014 and 2024 were analyzed, focusing on both design-related and site-related factors that play pivotal roles in a park’s cooling effectiveness. Design-related factors include park size, shape, vegetation density and composition, the presence of water bodies, and impervious surfaces while site-related factors encompass background climate conditions, the proximity to natural water bodies, and the urban configuration surrounding the parks. The findings reveal that park size, tree coverage, and the presence of water bodies are the most influential design-related factors in enhancing cooling performance. For site-related factors, wind speed and direction emerged as critical components for maximizing cooling benefits. Research also showed urban configuration can affect the overall cooling performance by influencing airflow patterns and shading. Understanding these dynamics is crucial for cities worldwide as they strive to design parks that address their specific environmental and climatic challenges. The findings of this review offer practical guidance for landscape architects and urban planners, enabling them to design parks that deliver enhanced cooling benefits, especially when cities face rising temperatures and an increasing number of heatwaves.