Southgate station opened on 13 March 1933 with Oakwood on the second phase of the northern extension of the Piccadilly line from Finsbury Park to Cockfosters.

Externally, the flat roof of the raised central section appears, impossibly, to be supported by nothing more than a horizontal band of windows that provide daylight to the ticket hall.

In 2008, the station was extensively renovated, with new tiling at platform level, a partial new floor in the main ticket hall, and improved signage throughout.

The balustrade of the escalators was manufactured from bronze, rather than aluminium to maintain the 1930s period appearance of the station and to satisfy the requirements of English Heritage.

The preserved condition of the station's original features, particularly the escalators, makes Southgate popular for filming scenes for period dramas.

The tunnel portals are visible from the platforms when looking north, a unique occurrence for a deep-level London Underground station.