[3] According to renowned historians and anthropologists such as Domingo Abella, Luis Camara Dery, Merito Espinas, F. Mallari, Norman Owen, Mariano Goyena del Prado, et al., Magallanes was the location of the ancient settlement of Ibalong.

Magallanes started as settlement called Parina, a name derived from the hardwood tree reputed to be so durable as to last for centuries that was known to abound in the place long before it became a barrio of Pueblo de Casiguran under the old province of Albay.

As a countermeasure, the Spanish Comandancia of Parina constructed a watchtower in strategic areas as Barangay Telegrafo and Bagatao Island equipped with cannons.

On July 16, 1860, the name Parina was changed to Magallanes in honor of the Portuguese who discovered the Philippines island in 1521 Ferdinand Magellan.

Marine and fishpond fishing are the town's prime industry despite large agricultural lands being engaged as well in crop and livestock production.

Crops production of rice, corn, coconut, fruit trees, vegetables and root cops make an abundant produce for the town.