The future of the Princess Diana Park, in Banbury is under threat after vandals caused thousands of pounds worth of damage.
In recent weeks fencing has been destroyed and play equipment has been broken and removed from the play area.
Park owners Banbury Town Council say the vandalism is unacceptable and cannot be allowed to continue.
Chairman of the council’s general services committee Colin Clarke said: “There has been repeated vandalism in Princess Di Park and cost of repairing it is high.
“The council cannot continue to foot the bill for repairs and will discuss the possibility of no longer replacing vandalised equipment.
“The future of the park, and particularly the play area, will be placed on the agenda for discussion by councillors at their next meeting.”
Cllr Clarke added: “Princess Di Park is a wonderful facility but if it is not appreciated then things will have to change.
“This council doesn’t have bottomless pockets. Sadly the vandals will spoil the park and those who use the play equipment properly could lose something they enjoy.”