The Walibi name comes from the three towns around the park (Wa)vre, (Li)mal and (Bi)èrges. The Wavre was added after Walibi started opening and purchasing other parks.

The park's original main attraction was a large lake where guests could water-ski. In following years, the larger rides were themed to comic book hero Tin-Tin.

For the 2001 season Six Flags introduced a significant number of new attractions including two new roller coasters. Simultaneously, the park was renamed as Six Flags Belgium.

This was the first European park with a Pay-One-Price (POP) admission.

Founded by Eddy Meeùs.

In 1998 Premier Parks purchased the park. At the time Premier Parks also owned Six Flags Corporation. In 2000 the Premier Parks name was dropped in favor of the more popular Six Flags brand name.

Six Flags operated the park until early 2004 when Six Flags sold their European parks (excluding their small portion of Warner Bros. Movie World in Madrid, Spain) to Palamon Capitol Partners who now operate the parks under the Star Parks Europe name. The park continued to operate as Six Flags Belgium for the remainder of the season and the park was renamed Walibi Belgium for the 2005 season.

In the spring of 2006 Star Parks sold Walibi Belgium to Grévin & Cie.