Ascot Vale station was originally opened on November 1, 1860 by the Melbourne and Essendon Railway Company. However, it was shut down on July 1, 1864 when the company ran short of money and a government assistance grant was refused. The line, which only ran as far as Essendon, was sold to the Victorian Government in 1867, and after some much needed repair work was completed, the station was reopened on October 9, 1871.
It is currently operated by Connex Melbourne, and is a host station, staffed during the morning peak.