The station, built as part of the Lantau Airport Railway project, was constructed between December 1994 and March 1998 by Japanese contractor Maeda Corporation.

Tsing Yi station is located in the northeastern quarter of the island of the same name, slightly to the west of Kowloon and mainland Hong Kong.

Owing to its ideal location between Kowloon and Lantau Island, MTR Properties has heavily invested in commercial and residential development around Tsing Yi, the most prominent of this investment being Maritime Square, a large shopping centre extending from the station, and the residential estate Tierra Verde, which lies on top of the station.

Maritime Square contains 46,170 m2 (497,000 sq ft) of retail space, while the Tierra Verde complex comprises twelve residential towers and a total of 3,500 flats.

Platform 2 is only used to allow passengers coming from Hong Kong International Airport or AsiaWorld–Expo to disembark, except between 7 am and 10 am on Mondays to Saturdays, when Morning Express services are available.