This prehistoric monument measures 1.72 metres in height, 1.23 metres across its widest point, and stands 0.7 metres thick, oriented along a northeast to southwest axis. The stone's substantial proportions and deliberate placement on what has long been recognised as fertile agricultural land suggest it held particular significance for the communities who erected it thousands of years ago.

Standing stones like this one are amongst Ireland's most enigmatic archaeological features, with their original purposes still debated by scholars. Some may have served as territorial markers or waypoints along ancient routes, whilst others possibly held ritual or astronomical significance; many were likely focal points for ceremonies or gatherings. The Ballylawn stone's orientation and prominent position overlooking the lough might indicate it served multiple functions for the prehistoric inhabitants of this region.

This particular monument was catalogued during the comprehensive Archaeological Survey of County Donegal, conducted in 1983 by Brian Lacey and his team of researchers. Their work documented the county's archaeological heritage spanning from the Mesolithic period through to the 17th century, ensuring that monuments like the Ballylawn standing stone are properly recorded and protected for future generations to study and appreciate.