The first train arrived at Yinchuan station, then only a stop on the Baotou–Lanzhou railway, on August 1, 1958. The first station building was opened in 1959.[4][5] In 1988, a new station building was inaugurated, which was replaced in 2011 by a building on the opposite (eastern) side of the platforms.[6]
Since the opening of the Yinchuan–Zhongwei high-speed railway in 2019, the station is served by both conventional and high-speed train services.[7] In 2023, the station exceeded 10 million annual passengers for the first time, of whom 7.6 million travelled on high-speed trains. The average daily number of passenger totaled to 33,300 that year.[8]