The station was opened by the Great Northern, Piccadilly and Brompton Railway on 15 December 1906. The original, Leslie Green-designed station building still remains to the south of the road junction, notable by its ox-blood coloured tiles; it was until June 2010 used as a pizza restaurant, and since 14 December 2012 it has been the Wellesley Hotel. The building was taken out of use when the station was provided with escalators in place of lifts and a new sub-surface ticket hall that came into use on 23 May 1932 although an emergency stairway provides a connection to the platforms. The lift shafts are now used to provide ventilation. The 1932 station had showcases inset to the walls that showed a series of diamoras depicting the development of the London bus - long gone, some of the scale models survive in the LT Museum Collections. When the station was rebuilt with escalators the adjacent little-used station at Down Street to the east (towards Green Park) was taken out of use.
It is one of the few stations which have no associated buildings above ground, the station being fully underground. The current entrance to the station is accessed from within the pedestrian underpass system around the Hyde Park Corner junction. On the corner of Park Lane and Piccadilly is the former residence of the Duke of Wellington, notable as it had the supreme one-upmanship address of No 1. London. The station has cash machines, Euro cash machines, escalators, wi-fi, payphones and help points.
Connections: London Buses routes 2, 9, 10, 14, 16, 19, 22, 36, 38, 52, 73, 74, 137, 148, 414, 436 and C2 and night routes N9, N13;N16, N19, N22, N38, N73, N74 serve the station. Green Line Coaches routes 701 and 702 serve the station.