The stadium is located in the central Athens district of Pangrati, to the east of the National Gardens and the Zappeion Exhibition Hall, to the west of the Pangrati residential district and between the twin pine-covered hills of Ardettos and Agra. Up to the 1950s, the Ilissos River (now covered by, and flowing underneath, Vasileos Konstantinou Avenue) ran in front of the stadium's entrance, and the spring of Kallirrhoe, the sanctuary of Pankrates (a local hero) and the Cynosarges public gymnasium were nearby.
The Fokianos sports facility lies across Vasileos Konstantinou Avenue, and adjacent to it are located the Athens tennis club, the Ethnikos athletics track, the Federation swimming pool, the remnants of the Temple of Olympian Zeus, and Hadrian's Gate. Until the late 19th century and the containment of the Ilissos riverbed, the area was reedy and often flooded, and was called the "Vatrahonisi" (Frog Island).