“Rollin' Stone” has been identified (along with “Walkin' Blues”, the single’s B-side) as one of the first songs that Muddy Waters learned to play and an early favorite. The words refer to the traditional proverb, “A rolling stone gathers no moss”.

Called “a brooding, minor-hued drone piece”, “Rollin' Stone” is a mid- to slow-tempo blues notated in 4/4 time in the key of E. Although the instrumental section uses the IV and V chords, the vocal sections remain on the I chord, giving the song a modal quality often found in Delta blues songs. In addition to the traditional catfish verses, Waters added:

“Well my mother told my father just before I was born
‘I got a boy child comin’, gonna be, gonna be a rollin' stone
Sho' enough he’s a rollin' stone”

Unlike most of his early recordings which have bass or other instrumental accompaniment, “Rollin' Stone” is a solo performance by Muddy Waters on vocal and electric guitar. It has “much empty space … imbued with the power of a pause, of letting a note hang in the air, the anticipation of the next one”.

“Rollin' Stone” was the first Muddy Waters record released on Chess Records and the second overall for the label (previous releases were on Aristocrat Records). It sold about 70,000 copies.

English blues rock group the Rolling Stones and the music magazine Rolling Stone took their names from the song. In 2000, the song was honored with a Grammy Hall of Fame Award; in 2004, it was included at number 459 by Rolling Stone in its list of the “500 Greatest Songs of All Time”.