Malachite's name is derived from Greek, meaning mallow green stone. The mineral was given this name due to its resemblance to the leaves of the Mallow plant with their deep green color. Malachite was so desired for its color, it was used as a mineral pigment in green paints from antiquity until about 1800. Although no longer serving a functional purpose, malachite is still much sought after for jewelry and as decor. Each of these specimen has a unique structure, most resulting from botryoidal masses. 

A 17th-century Spanish superstition held that having a child wear a lozenge of malachite would help them sleep, and keep evil spirits at bay. Marbodus recommended malachite as a talisman for young people because of its protective qualities and its ability to help with sleep. It has also historically been worn for protection from lightning and contagious diseases and for health, success, and constancy in the affections. During the Middle Ages it was customary to wear it engraved with a figure or symbol of the Sun to maintain health and to avert depression to which Capricorns were considered vulnerable.

In ancient Egypt the color green (wadj) was associated with death and the power of resurrection as well as new life and fertility. Ancient Egyptians believed that the afterlife contained an eternal paradise, referred to as the "Field of Malachite", which resembled their lives but with no pain or suffering.

According to metaphysics: Malachite is the essence of joy and is known as the "stone of transformation" because it helps reveal and heal emotional pain by absorbing the pain into itself. It is especially helpful in bringing ease during times of change and gives the insight needed for personal growth.