The discovery was made at approximately 7:30 a.m. Sunday at Kosciuszko Park.
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Authorities reported that a body had been found near the 600 block of South Franklin Street.
Police say the 59-year-old's body was found at the center of the park. The woman has since been identified as Barbara Williams.
Authorities said the deadly stabbing took place inside of a residence in the 1300 block of Lancaster Avenue, and that the victim's remains were brought to the park.
Steven Byrd, 35, was arrested on Tuesday and charged with first-degree murder, possession of a deadly weapon and tampering with evidence.
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He was arraigned and is being held at the Howard R. Young Correctional Institution on $2,368,172 cash-only bail.
Joseph Welsh, 29, was also arrested on Tuesday and is accused of helping Byrd move the victim's remains.
Welsh is charged with tampering with evidence and conspiracy.
He is being held on $10,000 secured bail.
A motive for the stabbing was not disclosed.