Legend has it the Balancing Rock has stood in its present location for over 200 years, probably much longer. The Balancing Rock is part of the North Mountain columnar basalt which forms these cliffs along St. Mary's Bay and the Bay of Fundy.

The Balancing Rock dates back to the age of the dinosaurs. The North Mountain, which extends down Digby Neck and continues as a ridge along Long Island, is composed of Triassic basalt, a hard, heavy volacnic rock, sometimes found in the form of columns. It was formed during the hayday of the dinosaurs.

The Balancing Rock is a giant Triassic basalt column left standing after the surrounding columns eroded and fell into the sea. This beautiful remnant of the dinosaur age may also someday fall into the sea. Basalt formations are also prevalent all along the Dartmouth Point Walking Trail in Freeport.

Word has it that a a boat full of fishermen actually lassoed the rock and attempted to pull it into the water, but failed.