[4][5] Originally scheduled for completion by the 1980s, under the 1969 Melbourne Transportation Plan,[6] the Victorian Government set aside $38 million for the construction of the station in the 2007/2008 State Budget.

[7] Completion was expected in 2010,[7] with the project re-announced as part of the state government Victorian Transport Plan in December 2008.

[7] The railway past the site of Coolaroo station originally opened in 1872, as part of the North East line to School House Lane.

[4] In December 2008, to allow construction of Platform 1, work on the slewing of the parallel standard gauge track commenced, and was completed by January 2009.

On 6 June 2010, the station was opened by then Premier of Victoria, John Brumby, and then Minister for Transport, Martin Pakula.