In June 1987, the Carbonear Railway Station was recognised as a Registered Heritage Structure. The Railway Station Museum is also used as a tourist information centre.
The current building was completed in 1919. On March 31, 1984, the station ceased operations. The station owned by the Town of Carbonear has been restored and turned into a museum.
The major exhibit in the museum illustrates the history of Carbonear Island and includes information about the Carbonear Island Archaeological Dig: The main exhibit room components are divided into six thematic areas which allow you to trace the history of Carbonear Island. In addition, there is a exhibit of railway paraphernalia which outlines the history of the Railway Station.