The Cholsey to Wallingford branch began in 1861 as the Wallingford and Watlington Railway. Originally planned from Moulsford via Wallingford, Benson, Watlington & Chinnor to join the GWR Aylesbury branch at Princes Risborough.
Income was less than expected. The line never reached past Wallingford. Regular passenger services on the 'Bunk', as it is known, ended in 1959, goods traffic in 1965.
In 1961 a malting was built next to the railway which the line served until 1981. On 31 May 1981 Cholsey & Wallingford Railway Preservation Society was formed, volunteers now run the line.