As at 26 October 2010, Homebush Railway Station has state significance as the site of three different railway stations that represent three significant historical phases in the development of the NSW railways. The site is significant as one of only four original intermediate stations on the first railway line in NSW between Sydney and Parramatta; the subsequent rebuilding of the station in the 1860s was associated with servicing the nearby Government Abattoirs at Homebush; and the existing station arrangement dating from the 1891 quadruplication of the line represents the expansion of the railways in the late 19th century to accommodate increasing rail services.