During World War I, Liverpool Street Station was the target of one of the deadliest airstrikes by fixed-wing aircraft, which killed 162 people. During postwar reconstruction until the outbreak of World War II, the station was the terminus for trains carrying thousands of refugee children arriving in London as part of the Kindertransport rescue mission.

The station was modernized between 1985 and 1992; at the same time the nearby Broad Street station was demolished and its lines redirected to Liverpool Street. As part of the development project, Broadgate was built on the site previously occupied by Broad Street Station. Queen Elizabeth II officially inaugurated the refurbished station in December 1991.

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