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The area was named after a stone bridge built (built in the later 17th century, when most bridges were of wood) over the River Brent to the north.

The exclusive Craven Park Estate of large houses was built in the 1860s and later, roughly at the same time as the Midland Railway constructed the Dudding Hill Line (now a freight line), which gave its new residents access to central London. However, the passenger service on the line closed for a second and final time in 1902, but only after a sustained protest campaign by local people.

Although other high-quality housing had grown up around the now-closed nearby Harlesden (Midland) railway station, the area failed to consolidate as an up-market suburb, because of the general expansion of London, increasing industry, and the building of low-quality, cheap housing, in the late nineteenth century. Sub-division of many of the large houses was carried out and Stonebridge became a low-income area, which continued after high-rise comprehensive redevelopment, mostly built in a single architectural style and called the 'Stonebridge Estate', in the 1960s and 1970s.

Some parts of Stonebridge have always been in private ownership, and not been part of the Stonebridge Estate.

London Underground's Stonebridge Park Rail Depot is on the west side of the area.