This ancient standing stone rises just over a metre high, measuring 1.06 metres in height with a base that's 0.8 metres wide and 0.44 metres thick. The stone is oriented along a north-northeast to south-southwest axis, a deliberate placement that may have held ritual or astronomical significance for the people who erected it.

Standing stones like this one are amongst Ireland's most enigmatic prehistoric monuments, typically dating from the Bronze Age period between 2500 and 500 BCE. Whilst their exact purpose remains debated by archaeologists, these monoliths likely served multiple functions; as territorial markers, memorial stones for important individuals, or as part of ritual landscapes connected to seasonal celebrations and astronomical observations. The Magheraboy stone's position on good agricultural land suggests this area has been valued by communities for thousands of years.

The stone was formally documented as part of the Archaeological Survey of County Donegal, a comprehensive cataloguing effort completed in 1983 that recorded field antiquities from the Mesolithic period through to the 17th century. Today, this weathered sentinel continues to mark its spot on the ridge, a tangible link to Donegal's deep prehistoric past and a reminder of the ancient peoples who first shaped this landscape.