British Transport Police (BTP) said they attended reports of a stabbing at Green Park Tube station in central London at 6.47pm on Friday.
Ricky Morgan, 33, and of no fixed address, is charged with attempted murder and possession of an offensive weapon in a public place.
He has been remanded in custody to appear at Westminster Magistrates’ Court on Monday.
A man was taken to a local hospital where he remains in a stable condition.
A passenger in his 30s, who was among those trapped in a carriage with the alleged attacker, said he feared he would be “hacked to death underground”.
The witness, who did not want to be named, said: “All of a sudden there was a huge commotion.
“A man stood in the middle of the carriage and brandished a foot-long black machete.
“People started screaming, there was a stampede to the front carriage – people got trampled on and pushed into the plastic and stuff.”
The witness said the victim had a wound on his head which he described as “a deep gash”.
He said he moved away from the attacker into another carriage, adding: “The attacker went back down the train. We heard screaming but we don’t know what happened.
“He then came back and stood at the opposite end of the carriage taunting us and making out he was going to break down the door of the carriage.
“It was completely and utterly terrifying. For about 10 minutes I genuinely thought I would be hacked to death underground.
“However, people showed compassion and care to each other – people held other’s hands, and a teenage boy saved his mum from being trampled.”