Urban green spaces (UGS) improve living conditions in cities by mitigating the Urban Heat Island effect. While the cooling effect of UGS seems unequivocal, the relationship between the types of UGS and types of residential areas has not yet been well explored. In this study, we systematically analysed the cooling effect of 71 UGS in Prague, a central European city, on residential areas within 400 m of the UGS. The UGS are classified according to their spatial characteristics (size, shape, and tree density), and the residential areas according to three Local Climate Zones (LCZ 2, 5, 6) typical for European cities. The cooling effect is evaluated using a regression model of the Land Surface Temperature (LST) in residential zones according to the LCZ type and distance from the various UGS. The results show that compact UGS of 10–25 ha with dense trees have the most pronounced cooling effect. This type of UGS was associated with a mean decrease in LST within 400 m of 2.3 °C compared to the least effective UGS type (long with sparse trees) across LCZs. The results of the presented study can be applied in urban planning and urban design to improve microclimates in cities.