It was created by George V on 29 January 1916 for the shipbuilder and engineer Alfred Yarrow. He was founding Chairman of Yarrow & Co, shipbuilders, of the Isle of Dogs, London and later of Scotstoun, Glasgow.
The actor Damian Lewis is the 1st baronet's great-great-grandson.
Yarrow baronets, of Homestead (1916)
- Sir Alfred Fernandez Yarrow, 1st Baronet (1842–1932)
- Sir Harold Edgar Yarrow, 2nd Baronet (1884–1962)
- Sir Eric Grant Yarrow, 3rd Baronet (1920–2018)
- Richard Grant Yarrow (1953–1987)
- Sir Ross Yarrow, 4th Baronet (born 1985)
- The heir apparent is Henry Yarrow (born 2016), only son of the 4th Baronet.
- Kidd, Charles, Williamson, David (editors). Debrett's Peerage and Baronetage (1990 edition). New York: St Martin's Press, 1990.
- Burke's Peerage and Baronetage