The park is named for Alexander H. Stephens, the Vice President of the Confederate States of America, and a former Georgia governor.

After he died, the property came under the control of the Stephens Monument Commission, a group chartered to protect Liberty Hall and its surroundings.

The museum was established in the 1950s after work by Horace Holden, Stephens' niece and a United Daughters of the Confederacy member, who assisted in creating it.

The state acquired 15 acres of Taliaferro County Board of Education-owned property in 2001, which increased the park's current acreage.

After Stephens died in 1883, Liberty Hall, owned by his surviving relatives, served as a boardinghouse until 1932, when it was donated to Georgia.