Named after the Marquess of Donegall, head of the Chichester family and landlord of the town of Belfast. Donegall Square was planned as early as 1784 (Belfast News-Letter, 07/05/1784) in the time of the 5th Earl of Donegall, who later became the 1st Marquess (1739-99). 1784 also saw the opening of the White Linen Hall. However, the square was not laid out until the beginning of the 19th century, in the lifetime of the 2nd Marquess (1769-1844). The square was built around the Linen Hall, later replaced by the City Hall. Once completed, it became the new focal point of the town, replacing the Four Corners in this role.
The Marquess of Donegall was recorded in Griiffith's Valuation in 1862 as the landlord of the townland of Town Parks, parish of Shankill.