The station was originally opened on 22 August 1856 as part of the Eastern Counties Railway branch to Loughton. Further alterations were carried out by the successor company, the Great Eastern Railway, including services to Ilford via the Fairlop Loop opened in 1903. After 1923 the station came under the control of the London & North Eastern Railway until transfer to the London Passenger Transport Board (LT) on 14 December 1947 as part of the extension of the Central Line services of the London Underground. The station acted as a terminus for the Central Line, with passengers transferring to a steam shuttle onwards towards Epping, until electric services commenced as far as Loughton (and around the 'loop' to Hainault) on 21 November 1948.
As part of the electrification carried out for the transfer to LT the original level crossing at the station, where Snakes Lane crossed the line, was closed and a bridge, to the south, was constructed. The original goods yard, which was closed in the late 1960s, now forms the car park.
It was once also suggested that the Victoria line could terminate at Woodford or South Woodford stations.
The main western entrance is located off The Broadway with access to the station car park. The eastern entrance is located on Snakes Lane East. This entrance is closed in the late evening and the ticket office is no longer in use.