In November 1889, the CLR published a notice of a private bill that would be presented to Parliament for the 1890 parliamentary session. The bill planned an underground route between Queen's Road (now Queensway) and King William Street. In November 1890, with the C&SLR about to start operating, the CLR planned an extension to Shepherd's Bush from Queen's Road in the west. In the east, the terminus was changed to Cornhill and intermediate stations were added at Lansdowne Road, Notting Hill Gate, Davies Street and Chancery Lane. These plans were accepted by both Houses of Parliament on 5 August 1891. The CLR employed the engineers James Henry Greathead, Sir John Fowler, and Sir Benjamin Baker to design the railway. Work began with demolition of buildings at the Chancery Lane site in April 1896 and construction shafts were started at Chancery Lane, Shepherd's Bush, Stanhope Terrace and Bloomsbury in August and September 1896. Tunnelling was completed by the end of 1898. The official opening of the Central London Railway (CLR, now the Central line) by the Prince of Wales took place on 27 June 1900.
In 2007 the station underwent a major modernisation, removing the murals installed on the Central and Bakerloo line platforms in the 1980s and replacing them with plain white tiles, in a style similar to those used when the station opened in 1900. One 1980s mural remains on one of the platforms. The Central line platform works were substantially complete and a new Station Operations Room at top level opened. Oxford Circus station has 14 escalators. Major escalator refurbishment took place in 2010–11. Platform humps were also installed at the station to provide step-free access to trains. The station has cash machines, Euro cash machines, wi-fi, escalators, payphones and help points.
Connections: Bakerloo and Victoria Lines. London Bus routes 3, 6, 7, 10, 12, 13, 23, 25, 55, 73, 88, 94, 98, 137, 139, 159, 189, 390, 453 and C2, and night routes N3, N7, N8, N13, N18, N55, N73, N98, N109, N113, N136, N137 and N207 serve the station. Additionally, bus routes 6, 10, 12, 23, 25, 88, 94, 139, 159, 189, 390, 453 and C2 provide a 24-hour bus service.