The station opened on 13 March 1933 as part of the Cockfosters extension, its original name being Enfield West.

The station building is a fine example of the architecture Charles Holden designed for the Piccadilly line extensions, with a large and imposing box-shaped ticket hall surrounded by lower structures containing shops.

The whole design mirrors proportions found in classical architecture, albeit in a distinctly 20th century structure.

The Public Address system was also improved, with new information indicators installed on the platforms and inside the ticket hall.

Before the station opened, the Underground Electric Railways Company of London (forerunner of London Underground) suggested names for it including Oakwood, Merryhills and East Barnet, but it was named Enfield West at opening and renamed Enfield West (Oakwood) the following year.