The station was opened with the first section of the Frankfurt City Tunnel in May 1978.

It consists of two tracks, surrounding a central platform.

The name Taunusanlage refers to a section of the now demolished city walls, named in the 19th century after the nearby Taunusbahnhof (Taunus station) of the Taunus Railway.

Taunusanlage station is located in Frankfurt's Westend district, close to Taunusanlage Park and the Bankenviertel, Frankfurt's financial district.

Its entrance escalators are next to the Deutsche Bank Twin Towers.