The stone, which is believed by some to be half of the original Stone of Scone, was presented to Cormac McCarthy by Robert the Bruce in 1314 in recognition of his support in the Battle of Bannockburn.

The proprietors of Blarney Castle list several alternative explanations for the origins of the Stone and its supposed powers, all of which suppose that the Stone had previously been in Ireland but was then taken to Scotland and returned to Ireland in 1314.^[1] The stories they list include:

• the Stone was the stone that Jacob used as a pillow, and was brought to Ireland by the prophet Jeremiah
• the Stone was the pillow used by St. Columba of Iona on his deathbed
• the Stone was the Stone of Ezel, which David hid behind on Jonathan's advice, while fleeing from King Saul, and may have been brought back to Ireland during the Crusades
• the Stone was the rock that Moses struck with his staff to produce water for the Israelites, during their flight from Egypt
• in Ireland, the Stone was known as the Lia Fáil or "Stone of Destiny", part of the king's throne, with mysterious powers
• the stone's powers were revealed to the McCarthys by a witch who had been saved from drowning

Queen Elizabeth I wanted Irish chiefs to agree to occupy their own lands under title from her. Cormac Teige McCarthy, the Lord of Blarney, handled every Royal request with subtle diplomacy, promising loyalty to the Queen without "giving in". Elizabeth proclaimed that McCarthy was giving her "a lot of Blarney", thus giving rise to the legend.