The joint venture between the City of Swan and Child Australia to upgrade the facility took 18 months.
Mayor Charlie Zannino said the redevelopment included a water feature, timber balance beams, swings, animal sculptures, decking, a bridge, synthetic turf, sand pits and a cubby house.
"The campus has established extensive working relationships with schools and parents to provide a valuable service to the community," he said.
Child Australia WA executive manager Sara Hinchley said since the not-for-profit organisation took over the Lockridge service in 2010, it had expanded to include after-school care facilities.
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READ NOW"By establishing relationships with local schools, we have been able to provide smoother transitions for children as they enter the school system," she said.
"Now we are thrilled to work with the City of Swan on this amazing collaborative project, which all of the children will enjoy for years."