Ollerton railway station was opened on 15 December 1896 by the Lancashire, Derbyshire and East Coast Railway.
Scheduled services ended on 19 September 1955 although summer holiday excursions continued to call at the station until 6 September 1964 when the station closed for good.
There never was a Sunday service at Ollerton.
Two services called at Ollerton in 1922. Three trains per day plied between Chesterfield Market Place and Lincoln with a market day extra on Fridays between Langwith Junction and Lincoln. All these trains called at all stations. The truncated remains of this service ended in September 1955.
Three trains per day terminated at Ollerton from Nottingham Victoria via Mansfield Central then went back again half an hour or so later. This service was later cut back to Edwinstowe. A fourth train ran to Nottingham Victoria Monday to Friday, but on Saturdays it started from Lincoln and ran through to Leicester Central. This service did not survive the Second World War.
A branch was built to serve Ollerton Colliery which opened in 1926. This branch has now been severed from the "Main Line". In the mid-twentieth century, the LMS and LNER jointly proposed a coal line to be called the Mid-Notts Joint Railway from Bestwood Park Junction, near Nottingham to Checker House Junction on the former GCR line near Retford. Only the section between Ollerton and Farnsfield was built. The southern section to Bestwood Park was completed in the 1950s to serve the new Calverton Colliery.
The line through Ollerton Station was reopened to non-passenger traffic in August 2009 as the High Marnham Test Track. The line is used by Network Rail to test new engineering trains and on-track plant. The test line runs from Thoresby Colliery Junction to the site of the partially demolished High Marnham Power Station, and passes former station sites of Ollerton, Boughton, Tuxford Central and Dukeries Junction.
There is no access to any of the old station buildings or the platforms, which despite having not been used since 1964, still remain and are in good condition.