The worker suffered several injuries, spending ten days in hospital after a 9.5m fall from a tower scaffold while cleaning a former lift shaft just over two years ago.
The Office of Rail and Road regulator’s investigation found London Underground failed to properly plan, manage and supervise the work.
Evidence showed procedures were available that may have prevented the incident, which were not implemented and followed.
ORR inspectors also found the tower scaffold was incorrectly assembled and its stability had not been assessed.
London Underground pleaded guilty to the charge at Blackfriars Magistrates’ Court.
Keith Atkinson, HM Principal Inspector of Railways said: “In 2014, London Underground’s failure to properly plan, manage or supervise maintenance work at the disused station in South Kentish Town, led to a worker spending ten days in hospital, and could have been fatal.
“London Underground has a good safety record, but this incident highlights why there can be no room for complacency.
“Safety remains a top priority for the rail regulator. We will always take action against companies or individuals where failings are found.”