The station opened in 1863 as "Gower Street", changing to its present name in 1909. In late 2006 the new entrance on the south side of Euston Road opened in a corner of the new headquarters of the Wellcome Trust replacing the old entrance. There is also a subway entrance on the north side of Euston Road.
In December 2005 Network Rail announced plans to create a subway link between the station and Euston station as part of the re-development of Euston station. This will create a direct link for users of main line rail services which depart from Euston. These plans would also be pursued during a rebuilding for High Speed 2.