The site, located off the B803 Slamannan Road, will create an additional 61 car parking spaces for rail-users.
It provides a third car park in the immediate vicinity of the station and brings the total number of dedicated spaces available to 416.
The project, which has been completed by RJ McLeod at a cost of £858,000, was mainly funded by Falkirk Council with contributions from the ScotRail Alliance and the Scottish Stations Fund.
The car park will see new lighting, CCTV and a cycle rack installed as well as new pedestrian access via an underpass/path on Drossie Road.
Councillor Paul Garner, Falkirk Council’s spokesperson for the environment, said: “We want to encourage a greater use of public transport across the area and the new car park will help us achieve this goal.
“The additional car and bike spaces will allow commuters to leave their vehicles closer to the station and reduce potential congestion in and around the station and surrounding streets at peak times.”
Peter O’Connell, ScotRail Alliance head of commercial development, said: “It’s great to see the new car park open for business. We want more people to travel by train and the extra parking makes it easier for them to include rail as part of their journey.
“The introduction of electric trains at Falkirk High and the investment in the station facilities are good for the local economy and the travelling public. It’s all part of our plan to build the best railway Scotland has ever had.”