The station was opened on 1 March 1880 as Putney Bridge & Fulham when the Metropolitan District Railway (MDR, now the District Line) extended its line south from West Brompton. The station served as the terminus of the line until 1889 when the MDR built Fulham Railway Bridge across the River Thames and extended the line south to the London and South Western Railway's (L&SWR's) newly built East Putney station where it connected to the L&SWR's new line to Wimbledon. Services from the station to Wimbledon began on 3 June 1889. The station has an ornate yellow brick façade at the entrance.
On 1 January 1902, the station was renamed Putney Bridge & Hurlingham referring to its proximity to Hurlingham Park and the Hurlingham Club. It received its current name in 1932. Despite taking its name from Putney Bridge, the tube station is in fact on the Fulham side of the Thames and is not actually located in Putney.
Putney Bridge currently has a bay platform (platform 2) which can only accommodate C stock trains and is located in the middle of the eastbound and westbound tracks. Because the westbound track is on a curve, there is a 10 mph speed limit for Wimbledon bound trains. There are plans to switch the bay platform and westbound platform. The track running through the bay platform would be the new westbound track and the current westbound platform would be the new terminating platform.