In the context of constructing child-friendly cities, children’s parks, as vital components of urban public spaces, play a significant role in promoting children’s physical and psychological well-being. Nevertheless, the operation and management of children’s parks currently confront numerous challenges, including funding shortages, rigid management models, and low levels of public participation. Using Guangzhou Children’s Park as a case study, this research develops a sustainable operational and management framework for children’s parks that involves multiple stakeholders. By systematically analyzing the current state of children’s park management and drawing on relevant literature, four key objectives, “environmental responsiveness, collaborative mechanisms, management performance, and resource integration”, are identified and integrated into the management framework. The study employs in-depth interviews and questionnaires to gather insights, challenges, and recommendations from park management authorities regarding the current management status of children’s parks. The findings suggest that a management framework involving multiple stakeholders can effectively enhance the efficiency and quality of service in parks, thereby promoting the sustainable development of children’s parks. This research offers theoretical support and practical references for children’s park management.