The depot was constructed in 1909 by the Atchison, Topeka, and Santa Fe Railway. It was originally served by trains of its builder, including the Texas Chief. After Amtrak's establishment in 1971, it was served by a train of the same name, renamed in 1974 to the Lone Star. Those trains served points as far away as Chicago, Illinois and Galveston, Texas. Service was discontinued on October 9, 1979, and no passenger train service was available until June 1999, when the Heartland Flyer was instituted between Oklahoma City and Fort Worth, Texas.

The architectural design of the depot is a modified Mission Santa Fe county seat standard plan.

The Norman Depot serves a dual function in the Norman, Oklahoma, community. As a passenger rail station it is served by Amtrak's Heartland Flyer and as a community center it houses a local non-profit arts association. The depot is located at milepost 401.8 of the BNSF Railway's Red Rock subdivision.

Community volunteers serve as "depot hosts" meeting passengers departing on the morning train and occasionally those arriving in the evening. The depot is also available to rent as a meeting space.