It was created in 1922 for the noted lawyer and Conservative politician F. E. Smith, 1st Viscount Birkenhead.
He was Solicitor-General in 1915, Attorney-General from 1915 to 1919, and Lord High Chancellor of Great Britain from 1919 to 1922.
He was also a Conservative politician and held minor office under Neville Chamberlain and Winston Churchill.
The second Earl's daughter, Lady Juliet Townsend, was Lord Lieutenant of Northamptonshire.
Birkenhead was a member of the committee for the 1924 Olympic Games, and more than 50 years after his death he was portrayed by actor Nigel Davenport in the 1981 film Chariots of Fire.