Derby's central location and former importance as a 'railway town' have made it an important node of the rail network. First opened in 1844, it was at the time one of the largest in the country and was unusual for being shared by more than one company. Until recently, major carriage and locomotive workshops as well as the Research Division in the Railway Technical Centre were housed there.

The station is an interchange point between the Midland Main Line from London St Pancras to Leeds and long-distance services on the Cross-Country route from Aberdeen through Birmingham New Street to Penzance or Bournemouth (the zero milepost on the latter route is at the south end of platform 1). Until the mid twentieth century, the station was also served by through trains from Manchester and Glasgow to London. It is still a busy station, the section to Sheffield having the highest train frequency (passenger and freight) of any line in the East Midlands.[citation needed]

Local services from Nottingham to Matlock along the Derwent Valley Line serve the station as well as local and semi-fast services to, Stoke-on-Trent, Crewe, Birmingham and Cardiff Central.

Derby station today has six platforms (all but Platform 5 are through platforms), connected by a footbridge, used as an exit to Pride Park and a car park.

After the building of the Stockton and Darlington Railway in 1825, a number of ambitious projects for long-distance lines between cities had been mooted. Among these was a line between London and Edinburgh, for both goods and passengers, via Bedford and Leeds, passing in between Carlisle and Newcastle.

Meanwhile a number of short lines were built for specific purposes. Among these were the Mansfield and Pinxton and the Leicester and Swannington. Both these were feeders for canals, the former a wagonway, but were pivotal in later events. Possibly the longest was the Cromford and High Peak Railway, opened in 1833, to connect the Cromford Canal with the Peak Forest Canal. It attracted interest because it provided access to Manchester through the Peak District of Derbyshire, even today an obstacle to transport.

In the 1830s, lines were already in progress between Bristol and London and from each to Birmingham and thence to Liverpool and Manchester, and their promoters were looking ahead. Three schemes came to the fore for the East Midlands. The Grand Junction Railroad would connect Birmingham with Sheffield and Derby, with a branch to Nottingham and another branch from Sheffield to Manchester. There would also be a line to the East Coast at Goole. In 1824 the London Northern Railroad Company was formed to link Birmingham, Derby, Nottingham, Hull and Manchester with London. Two options were proposed. One would branch at Loughborough, with branches for Nottingham and Derby, and proceeding to Manchester by the Cromford and High Peak Railway. The other option would pass through Northampton, with a branch to Birmingham, go on to Derby, with a branch to Nottingham, and thence to the Cromford and High Peak. The Grand Midland Railway was a proposal to branch from the London to Birmingham railway, already under consideration, at Northampton, and bring it through Leicester, Loughborough and Derby to the Cromford and High Peak.

Towards the end of the 1820s, however, the economic climate of the country had deteriorated, and many investors were waiting to see how the new Liverpool and Manchester Railway would succeed. Moreover, not everyone shared the dream. For most people the canals were adequate for the carriage of goods, while few travelled very far. Most people lived their lives within a few miles of their birthplace. The later story of the railways was a classic one of a product generating a demand, rather than the other way around. Thus, what investment that was forthcoming was for ventures for which a need could be clearly perceived, with a reasonable expectation of a good, and rapid, return. Although the surveys were useful in the planning of later lines, the three were never built.

Derby investors, naturally, favoured the scheme by the Grand Junction Railway to connect to the Cromford and High Peak Railway and Manchester, through Derby (at what was to be called the Grand Central Station), since the London and Northern would pass through Sandiacre, some ten miles away. In the event, neither line was built. In addition, the Cromford and High Peak Railway was not ideally suited to passenger working, and an alternative via Bakewell and Chapel-en-le-Frith would encounter very difficult terrain. (Manchester was not, in fact, reached until later in the century by the Manchester, Buxton, Matlock and Midlands Junction Railway and its extensions.)

The Midland Counties Railway was originally proposed to connect the Mansfield and Pinxton Railway to Leicester because of competition to supply coal. However, with the existing canal network, and the navigability of the River Trent to Nottingham, there had been few people willing to invest.