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.

A. H. Stephens bought the estate in 1845 and lived in this house until 1875 when he tore down the main structure to construct Liberty Hall.