Neighbouring villages are Kőröshegy, Zala, Lulla, Balatonendréd, Kereki and Pusztaszemes.

Bálványos and its surroundings could have been inhabited even before the Hungarian conquest of the Carpathian Basin, as evidenced by bronze fibula found in its territory.

Later in the Establishing charter of the abbey of Tihany in 1055, it was written as Baluvana and was known as a field suitable for grazing horses.

György Bálványosi died in 1488 without an heir so Orbán Nagylucsei, the Bishop of Eger and his brothers as well as Bernát Somogyi de Endréd acquired it as royal gift.

After the Revolution and War of Independence of 1848-49, the Viennese Satzger family created a grange and built several houses in the village.

During his regency it was one of Miklós Horthy's favourite hunting areas because of its forests which have a rich wildlife.

Today, its residents work in the nearby settlements at Lake Balaton while some do individual farming.

It belonged in 1333 to Péter Füle de Csege, in 1460 to Imre Somogyi and in 1466 to the Bishop of Veszprém.