Prospect is located 32 kilometres west of the Sydney central business district in the local governement area of the City of Blacktown and is part of the Greater Western Sydney region.
Captain Arthur Phillip called the area 'Bellevue'. In 1789, Captain William Tench climbed to the top of the hill here and gave it the name Tench's Prospect Hill. This was later shortened to Prospect.
Shortly after 1808, William Lawson was appointed aide-de-camp to George Johnston and was granted 500 acres at Prospect, which he named Vereran Hall, and built a 40-room mansion there. He died on the property on June 16 1850 and the property was eventually acquired by the Metropolitan Water Board. The house was demolished in 1926 and most of the property is submerged in what is now Prospect Reservoir.
Sir Joseph Banks is buried on in the cemetery on the hill.
Prospect is adjacent to the Great Western Highway and the M4 Motorway, providing road access to the western sections of the city and eastward to the Sydney CBD. The Prospect Highway links Prospect to the Hills District.
Nearby Blacktown railway station provides access to the Cityrail and Countrylink networks, especially Cityrails' Western railway line. Several bus companies offer connecting services between Prospect and Blacktown, via Blacktown Road.