The station has been founded on May 15, 1935 as a part of the first district of Moscow subway system from 'Sokolniki' to 'Park Kultury' with a branch from 'Ohotnii Ryad' to 'Smolenskaya' and has been named according to the city historical place of the same name. This place was firstly mentioned in 1423 as 'a village near Moscow above the Great Pond'. DUring the rule of Vasily Tyomny many suitable things were built in this village, so after that it was called 'Krasnoye Selo' which meant 'Beautiful Village'.

The station has only one vestibule. It is ground-based and from it you can exit to Krasnoprudnaya ulitsa (rus. Краснопрудная улица, eng. Red Pond Street) and Verhnyaya Krasnoselskaya Ulitsa (rus. Верхняя Красносельская улица, eng. Beautiful Village Great Street).

Number of retiring passengers per day is 28,2 thousand, number of entering passengers per day is 29,2 thousand.

'Krasnoselskaya' is a column double-span shallow station (the depth is 8 meters). The station has got a line of columns which is situated in the center of the platform. The platform is more narrow than the platforms of other stations of the first stage of the subway system because initially they've expected the small number of passengers using the station.

The track walls are faced with glazed tile the colour of which is yellow and (at the bottom of the walls) red, and also with gray marble. The columns are faced with yellow-brown marble-like limestone. The floor is faced with white and brown marble.