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This was a two platform station. It was built over station road, south of Oakley. There was a goods yard to the west, on the south side of the line and served from the west. The main station building was on the westbound platform, just to the west of the bridge.

To the west of the station was a junction, originally for the private line to Forth Iron Works which curved from east to north. This later became the North British Railway's Kinnedar Branch and ultimately served Comrie Colliery.

To the west one of the iron work's private lines crossed over the line to serve mines and there was a second curve from west to north which passed under this. After closure of the works both of these lines were closed.

Most of Oakley developed to serve the iron works and various connected mines, although the works period housing is gone. The village is the biggest reminder of the former works.

As part of the BR modernisation of the 1950s a new yard was put in west of Oakley on the main line, on the eastbound side, and new exchange sidings laid in on the Kinnedar branch. A turntable was supplied. A new bridge over station road was put in north of the station, a head shunt for the two yards - this was an extension of a much shorter and older head shunt for the branch. Because of these works a new signal box was installed in 1954.

The station closed in 1968. East to Dunfermline Upper was singled in 1972. West to Kincardine Junction, Alloa, was singled in 1973. The box closed in 1980 when the line west of Bogside, to the west, closed. The line west closed in 1982. With the closure of Comrie Colliery the line closed completely and in 1986 was lifted back to near Townhead Junction, Dunfermline.

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