The station was first opened on 24 September 1900 by the Central London Railway, three months after the first stations on the Central line opened. The surface building was designed, in common with all original CLR stations, by the architect Harry Bell Measures. The original plans for the railway included a station at Davies Street rather than Bond Street. In 1909, Harry Selfridge proposed a subway link to his new Selfridges store to the west, and the renaming of the station as "Selfridges". Contemporary opposition quashed the idea. The station has seen several major reconstructions. The first, which saw the original lifts replaced by escalators, a new sub-surface ticket hall and a new façade to the station, designed by the architect Charles Holden, came into use on 8 June 1926. This was demolished with the construction of the "West One" shopping arcade in the 1980s, a period that had also seen the Jubilee line services to this station commence on 1 May 1979. Some slight elements of the original facade do survive above the eastern entrance to the station.
There has been evidence of Roman settlement around what is now Bond Street. In 1894, a culvert made from brick and stone was discovered in the area. The street was named after Sir Thomas Bond, the head of a syndicate of developers who purchased a Piccadilly mansion called Clarendon House, from Christopher Monck, 2nd Duke of Albemarle in 1686, and proceeded to demolish the house and develop the area. At that time, the house backed onto open fields, known as Albemarle Ground, and the development of various estates in Mayfair had just begun. In 1784, Georgiana Cavendish, Duchess of Devonshire, an active socialite, demanded that people boycotted Covent Garden as its residents had voted against Whig member of parliament Charles James Fox, causing him to lose his seat in parliament and dissolve the Fox–North Coalition. She insisted people should look for nearer shopping streets, and encouraged people to go to Bond Street. Consequently, the street became a retail area for people living in Mayfair. By the end of the century, an upper class social group known as the Bond Street Loungers had appeared, wearing expensive wigs and parading up and down the street in a pretentious manner.
In 2007 the station underwent a major modernisation, removing the murals installed on the Central line platforms in the 1980s and replacing them with plain white tiles, in a style similar to those when the station opened in 1900. The station will be reconstructed to accommodate the extra platforms and increased pedestrian traffic. This will include a new street level entrance on the north side of Oxford Street. The station is to become one of many newly made "step free" stations. This means that there will be lifts to provide a step free way to access the platforms. The station has cash machines, Euro cash machines, escalators and toilets.
Connections: Central Line. London Buses routes 2, 6, 7, 10, 13, 23, 30, 73, 74, 82, 94, 98, 137, 139, 159, 189, 274 and 390 and night routes N2, N7, N13, N73, N98 and N207 serve the station.