Today it is erroneously believed to have been sunk for use of commoners denied access to a nearby Priest's Well, and/or to have been capped in the early 19th century out of fears of pollution or plague.
Its wellhead was jointly rebuilt by the Merchants House and City Council in 1835-6 for enclosure in a new wall when the Fir Park behind it was turned into a gardened burial ground.
While most wells in Glasgow were closed after freshwater piped from Loch Katrine transformed the city's health and sanitation in the 1860s, the Ladywell remained open for the public.
The classical wellhead installed by the 1836 restoration bears no resemblance to the original - an open round one - and remains there today.
A plaque commemorates its most recent refurbishment by Tennent Caledonian Breweries in 1983.