It was opened in 1862 as the terminus of an extension from High Wycombe via Princes Risborough The cost of construction of the station building was £2,201 1s 5d additional general works were £2,137 8s 8d.

The trainshed roof was extended on one side to provide a cover over the new platform.

Thame and the first station at High Wycombe were the same in design and dimensions, although different construction materials were used for each: the train-shed walls at Thame were timber,[1] while Wycombe's were flint and brick.

The station was provided with a 28 lever signal box, with ETB using Tyer's key token machines in operation.

[2] In January 1963 British Railways withdrew passenger services between Princes Risborough and Oxford,[3] and closed all intermediate stations including Thame.