The circuit was opened in November 1963 as a fairly simple sealed road course approximately one mile in length, comprising a flat tri-oval with an extended main straight leading to a hairpin bend. In 1976 the main straight was widened and a staging area added to enable drag racing. The most transformative change in the circuit's history came in 1993 when it was extended to 3.330 km, accompanied by a range of other renovations, bringing it to its present competitive layout.
The main track surface is hot-mix bitumen and runs 3.330 km in an anticlockwise direction through many fast sweeping corners. It rewards smooth and precise driving. Six configurations are available, ranging from a short 1.200 km "A Track" to a 3.380 km "Grand Prix with dipper" layout. An adjacent drag strip, a speedway circuit, a racing school, and a radio-controlled car circuit are also part of the wider Ruapuna complex. The circuit holds FIA Grade 3 as well as national grades 1, 2, and 3 licences.
The 3.330 km layout features on the motorsport simulation game Project CARS 2 as Ruapuna Park.
The circuit hosted the New Zealand Grand Prix in 1998 and 1999, with New Zealand driver Simon Wills winning both races in his Reynard 94D. Scott Dixon set the official lap record of 1:15.810 on 5 December 1998. An unofficial all-time track record of 1:11.265 was set by Liam Lawson in a Rodin FZED on 21 January 2022.
In May 2025, Supercars announced that Euromarque Motorsport Park would host a new second New Zealand round on the 2026 Supercars Championship calendar, joining the Taupo event. The initial deal covered three years and included various circuit upgrades.
The circuit hosts both car and motorcycle events. The annual Skope Classic, a two-day meeting for classic and historic cars held each February, is the flagship event and forms part of the Southern Festival of Speed programme. National championships, local club events, and driver training fill the calendar year-round.
The circuit opened simply as Ruapuna Park in 1963. From 2004 to 2013 the naming rights were held by Powerbuilt Tools, trading as Powerbuilt Raceway at Ruapuna Park. Mike Pero, founder of Mike Pero Mortgages and Real Estate, then held the naming rights from 2013 to 2023, during which time the circuit was known as Mike Pero Motorsport Park. Euromarque became the title sponsor at the start of 2023.
Immediately to the south of the main road circuit lies Ruapuna Speedway, operated by the Christchurch Speedway Association. Though sharing the Ruapuna name and land, the speedway has no organisational connection to the paved circuit. It hosted qualifying rounds of the Speedway World Championship from 1976 and staged the New Zealand Solo Championship on 17 occasions between 1965 and 2007.