The station was opened on 1 June 1865 by the Launceston and South Devon Railway, a 7 ft (2,134 mm) broad gauge line that connected with the South Devon and Tavistock Railway to offer a service to Plymouth Millbay railway station where connections could be made onto trains to London Paddington station.
It was proposed in 1865 to extend the line to meet the Bude Canal, but the scheme failed to raise its capital.
[1][page needed] On 21 July 1886 a 4 ft 8+1⁄2 in (1,435 mm) standard gauge line was opened from Halwill Junction, built by the North Cornwall Railway, which gave a direct route over the LSWR to London Waterloo station.
Trains continued to use their own company's platforms but on 18 June 1951, about three years after nationalisation and the formation of British Railways, the former GWR station became "Launceston North" and the former LSWR station became "Launceston South".
These names did not stay in use for long as from 30 June 1952 the passenger trains from Plymouth were routed into the LSWR platforms.
[4][page needed] There were goods sheds for both lines, that for the GWR north of their platform; that for the LSWR south of theirs.