It was formerly the main station serving the town, with links north to Ramsbottom, thence via Stubbins Junction either to Rawtenstall and Bacup or to Haslingden and Accrington; and south to Radcliffe Central, Whitefield, Prestwich and Manchester Victoria or via Radcliffe Bridge to Clifton Junction and the Bolton line.

There was also a local branch to Holcombe Brook and a curve to connect with Bury Knowsley Street station.

In its original incarnation, it boasted the headquarters of the East Lancashire Railway, situated on the up platform adjacent to the yard.

The west side had through lines and a rope-hauled incline giving access to the wagon works, now the site of Bury Leisure Centre.

The street level buildings were destroyed by fire on 14 May 1947 and were replaced with a new brick and concrete entrance and footbridge in 1952.

The station was extensively remodelled by the Lancashire and Yorkshire Railway (the company absorbed the ELR in 1859) who gave it its present form.

Since re-opening as part of the heritage railway operated by the East Lancashire Railway, a new platform building, incorporating a façade from the former Bury tram depot, has been erected on the up platform and the station is undergoing a comprehensive refurbishment and redevelopment plan.

Bolton Street Station, with its original features, was rescued from demolition and placed in the care of the East Lancashire Railway, a preservation group.