Nebraska's newest state park straddles the Niobrara National Scenic River, 18 miles east of Valentine. The park protects the biological and scenic significance of the location, while allowing the public to view the state's highest waterfall. The area primarily serves day-use visitors, canoers on the Niobrara River and canoe campers.

The south side of the river, where the falls are located, is maintained in a natural state. Hiking is limited to established trails to prevent erosion and protect rare plants. Although there is no vehicle access or camping there, a footbridge across the Niobrara links the falls to the north side of the park. Picnic sites, tent camping, restrooms, concession, and pay showers are available on the north side of the river.

Smith Falls State Park offers primitive camping that is reservable 1 year in advance. Smith Falls campground straddles the Niobrara National Scenic River. Picnic sites, tent camping, restrooms, concession, and pay showers are available on the north side of the river. No RV facilities are available. The park protects the biological and scenic significance of the location, while allowing the public to view the state's highest waterfall.