The station was originally called Ploshchad Sverdlova when it opened on September 11, 1938, as part of the second stage of construction of the Moscow Metro system.

[1] Teatralnaya Station has fluted pylons faced with labradorite and white marble taken from the demolished Cathedral of Christ the Saviour.

Crystal lamps in bronze frames attached to the center of the room give the central hall a festive appearance.

The vault of the central hall is decorated with caissons and majolica bas-reliefs by Natyla Danko on the theme of theatre arts of the USSR, manufactured by Leningrad Porcelain Factory.

The northern lobby is built into a former apartment building located at Bolshaya Dmitrovka street, exit to Theatre Square (Moscow).