The station was opened on 22 June 1907 by the Charing Cross, Euston & Hampstead Railway (CCE&HR), as part of its branch to Highgate (now Archway) station. The station was to be called Castle Road however this was changed just before the station opened. This name was fired into the original Leslie Green tiles however, after the name was changed, these tiles were just painted over.
The station was temporarily closed following strike action at the Lots Road power station during the afternoon of 5 June 1924, trains having called at the station that morning. In the event it was decided not to re-open the station after the power was restored due to the very low number of passengers using the station. During World War II it was used as an air raid shelter. There have been occasional proposals to rebuild the platforms and the station as part of the redevelopment plans for Camden Town station. The layout of the station is similar to Kentish Town (also CCE&HR); with two 23 ft diameter lift shafts and an 18 ft diameter spiral staircase. The station now serves as an access point for permanent way works and as an emergency egress point for passenger services.
A prose piece called South Kentish Town was written in 1951 by Sir John Betjeman, and told the fictional story of a passenger who became trapped in the disused station. It was based on a true incident where a train stopped at the station by mistake and opened its doors, but in real life no one was trapped.