The ancient village was once an important religious centre and the site of a Celí Dé monastery in the 12th century.

[3] The kirkyard at the centre of the small town contains the ruins of an important 15th-century parish church, which incorporates an 11th-century bell-tower[3] (originally free-standing, and comparable to, though on a smaller scale than, that incorporated into Dunblane Cathedral), built on the orders of Michael Ochiltree, Bishop of Dunblane (in the care of Historic Scotland; no entrance charge).

An early Christian cross-slab (perhaps 10th-11th century) and a damaged 13th-century double effigy of an Earl and Countess of Strathearn (formerly within the choir of the church) are preserved within the tower.

[5] Muthill Parish church dates from 1826 and is by James Gillespie Graham,[6] built at a cost of £6900.

In 2011, Muthill embarked upon a Community Action Plan exercise to explore how people envisaged the development of the village.