Paradise River is located on the east side of the river also named Paradise River. The Paradise River provided an important route between the coast and the Labrador interior for native peoples prior to European settlement.
The community of Paradise River was established in 1775 by George Cartwright. The people of Paradise River were involved in the cod and salmon fishery in the summer months and fur trapping and hunting in the winter.
Employment in the community today comes the operation of small local sawmills or as guides to fishing and hunting camps on the Eagle River.
Paradise River has access to Cartwright for public services.