[4] Following a landslide between Selby and Menzies Creek in the previous year,[6] on 30 April 1954, the station closed, along with the rest of the line.

[5][6] From 9 April 1955 until 23 February 1958, the Victorian Railways resumed operations between Upper Ferntree Gully and Belgrave, which was provided under a guarantee against losses by a citizens committee.

Belgrave station opened in its current configuration on 19 February 1962, after the line from Upper Ferntree Gully had been converted to broad gauge and electrified.

In the early hours of 23 November 1989, Hitachi carriage 219M was destroyed in an arson attack whilst stabled at the station.

[9] In 2018, the Victorian Government announced it would fund the construction of a multi-deck car park at the station, along with better pedestrian access and an improved bus interchange.