Crovie was established by families (crofters) who had been moved off the land to make room for the landlord's sheep. Here, they operated fishing boats for the landlord and gradually acquired their own craft instead. The fishing industry declined in the 20th century before ceasing altogether with the storm of 1953, which washed away a number of structures and forced the residents to flee. Since then most of the buildings have been turned into holiday lets.
No 23 was the boyhood home of David M. Addison whose "Confessions of a Banffshire Loon" contains a description of the Great Storm.