The park was constructed without a permit in the early 2000s under the 110 Freeway and quickly became a hub for local skaters.
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It was closed in 2014 after Caltrans began work on a freeway expansion.
The park is now back open legally.
Los Angeles City Councilman Joe Buscaino said he helped the San Pedro Skate Park Association work to "overcome heavy bureaucracy" to reopen the park legally.
With help from architects, planners and others in the community, the association received a final permit from the city to resume operations, according to Buscaino.
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"It was our objective all along to save this historic skating mecca here in San Pedro," Buscaino said at the reopening ceremony.
A documentary about the process will debut at the next SXSW Film Festival in Austin.
City News Service contributed to this report.