Telašćica was proclaimed a nature park in 1988 after the separation of the northwestern part of National Park Kornati (Act on Amendments to the Act on National Park “Kornati”, Official Gazette “Narodne novine” 14/88), i.e. with the proclamation of Nature Park “Telašćica” (Decree on the Proclamation of the Act on the Proclamation of Nature Park “Telašćica”, Official Gazette “Narodne novine” 14/88). Since 1980 the current space of Nature Park Telašćica used to be part of National Park Kornati (Act on National Park “Kornati”, Official Gazette “Narodne novine” 31/80) that covered Donji Kornati (the island string of Kornat and Piškera) and the southeastern part of Dugi Otok with its bay. Telašćica got the status of a protected area due to its valuable flora and fauna, geological and geomorphological phenomena, diverse communities of the seabed and interesting archaeological heritage, especially in the areas of basic phenomena of the park: Telašćica Bay, the cliffs of Dugi Otok, and Lake Mir. The purpose of protecting this area is the preservation of natural and cultural landscape, i.e. anthropogenically conditioned ecosystems and their biodiversity, and cultural heritage of the area, as well as the preservation of the value and attractiveness of the area for further research, its scientific and educational function.

A nature park is a vast natural or partly cultivated area of land and/or sea with ecological features of national and international importance, with a prominent landscape, educational, cultural, historical, tourist and recreational values. Economic and other activities that do not threaten its basic characteristics and role are allowed within a nature park, and their performance is determined within terms of nature protection.

Spatial plan for areas with special features is a plan that defines the organization, method of use, planning and protection of space within the Nature Park. It is passed by the Parliament of the Republic of Croatia. The plan is developed in compliance with the guidelines of the Strategy of Spatial Planning and by respecting nature, landscape and cultural and historical values, as well as the terms of environmental and nature protection. The spatial plan for areas with special features has a wider scope than the management plan. Beside natural resource management it also defines the framework for the development of public and other infrastructure, the requirements for construction projects for areas for which a detailed spatial plan is not made, and the obligation and scope of the development of guidelines and indicators for elements of more detailed spatial plans for smaller units.

The management plan defines development guidelines, methods of protection, use and management of the protected area and detailed guidelines for the protection and conservation of natural values of protected areas, respecting the needs of the local population. The obligation of drawing a management plan is prescribed by the Nature Protection Act, which prescribes that the management plan shall be adopted by the Governing Council of the Public Institution, with the approval of the competent Ministry and the previous expert opinion of the State Institute for Nature Protection (today HAOP), for a period of 10 years. The participation of the public must be ensured in the course of drawing the management plan. The management plan is implemented through annual programs for the protection, preservation, use and promotion of the protected area.