A large number of plant and animal species of interest occur within the site, including most of the native Irish mammal species, several important fish species including
Arctic char, and a range of rare or scarce plant species. The park has been designated a biosphere reserve because of the presence of such rare species. Significant amounts of plant species found in the park have unusual geographic distributions and are of localised occurrence within Ireland. These plant species are grouped within four main categories: arctic-alpine plants, Atlantic species, North American species and very rare species. Atlantic species are species which are otherwise found mostly in southern and south-western Europe, for example
arbutus,
St Patrick's cabbage and
greater butterwort. North American species include
blue-eyed grass and
pipewort.
Bryophytes Bryophytes (mosses and liverworts) flourish in the park, due partly to the area's mild oceanic climate. The park is internationally significant for bryophytes. Many of the bryophytes found in the park are not found anywhere else in Ireland. Mosses, ferns such as filmy ferns, and liverworts grow luxuriantly. Many of them live as epiphytes, growing on the branches and trunks of trees.
Other plant species The Killarney fern (
Trichomanes speciosum) is probably the most rare plant species in the park. It is a
filmy fern that grows in the
splash zone of waterfalls and other damp places. Although it was once quite common, it was picked almost to extinction when pickers collected it to be sold to tourists. The few sites where this fern remain tend to be in isolated mountainous locations where pickers never found it. Although the
strawberry tree (
Arbutus unedo) is relatively common in the park, it is one of Ireland's rarest native tree species and is found in very few locations outside Killarney. In the park it is found on cliff tops and the edges of the woodlands around the lake. Killarney
whitebeam (
Sorbus anglica) is a shrub or small tree that grows on rocks close to lakeshores. It is found only in Killarney. The more common Irish whitebeam (
Sorbus hibernica) is also found in the park. The
greater butterwort (
Pinguicula grandiflora) (also known as the Kerry violet) is a
carnivorous plant found in bogs. It digests insects to supplement the poor supply of nutrients (especially nitrogen) available from the bog. Its purple flowers bloom in late May and early June. Irish
spurge (
Euphorbia hyberna) is an Atlantic species that in Ireland is only found in the southwest. In the past the milky
sap from its stem was used to cure warts. Fishermen used it to capture fish, utilising compounds in the sap that prevent fish gills from functioning properly and so suffocate the fish. A number of rare species of myxomycete fungus have been recorded in the park. These are
Collaria arcyrionema,
Craterium muscorum,
Cribraria microcarpa (the only known location in Ireland),
C. rufa,
C. violacea,
Diderma chondrioderma,
D. lucidum,
D. ochraceum,
Fuligo muscorum, and
Licea marginata. The park has a highly diverse lichen flora. ==Fauna==