Sakae Station was opened on 15 November 1957 as Sakaemachi Station(栄町駅,Sakaemachi-eki?) as a terminal station on the No. 1 Line, later renamed the Higashiyama Line. The new subway system replaced the electric tram which had run above ground. The No. 2 Line (later named the Meijō Line) connected to the station on 15 October 1965. The station was renamed to its present name on 1 June 1966.
The station is rather large and contains many businesses such as restaurants and shops. There are three sets of gates corresponding to three exits: the Central Exit, the East Exit, and the West Exit. Past the West Exit are exits 1, 2, 7, and 8. Exit 3 and Exit 6 are between the Central Exit and the West Exit. Past the East Exit are exits 4, 4A, and 5.