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Part of the land that Sherwood Park lies on was originally a farmland belonging to the Smeltzer family. With a population of 64,700 residents, the hamlet would have been Alberta's seventh largest city. The hamlet which the Government of Alberta recognizes as equivalent to a city has about 49 neighborhoods. The urban service area is surrounded by cities and towns such as Edmonton to the west, Mundare to the east, Gibbons to the north and Beaumont to the south.
Economically, the hamlet boasts of over $9.0 billion worth of projects some of which are either under construction or are concluded. The District of Refinery Row which is situated in the western part of the hamlet is home to Esso's Strathcona Refinery and some of the largest refineries in Western Canada.
The hamlet abounds sports and recreational facilities. Facilities for visual and performing arts include Art Gallery @ 501, Smeltzer House Centre for Visual Arts and Festival Place. The hamlet is notable for the Sherwood Park Crusaders, a hockey squad which plays in the Alberta Junior Hockey League.