Whetstone station was built by the Great Central as part of its London Extension, and opened to passengers on 15 March 1899.
It was a conventional London extension station, common in towns on villages on the GCR, and was equipped with a single island platform.
Access was from beneath the railway bridge, which once spanned Station Street near the centre of the village.
[1] The station was one of the earlier closures on the line closing to passengers in 1963; it, like nearby Ashby Magna, served a relatively sparsely populated area and had always struggled to attract sufficient revenue.
[2] Since closure, the railway embankment has been removed, along with all station buildings and platforms; only the stationmaster's house remains today.