There are several versions about when or how this site was named Piedra del Águila , which stands for “Eagle's Rock” in Spanish. On the one hand, some people say the name responds to a rocky formation that reminded viewers of the silhouette of an eagle. Others assert that in 1890, the Third Cavalry Regiment first gave such a name to this site. And there are others who affirm that when General Villegas led the Andes Campaign, he observed a group of crags in this location where there used to be a vultures nest and it was him who saw an eagle standing there and shot it using his Remington.
Piedra del Águila was appointed head of the sixth district of the territory of Neuquén at the same time that this division was created, in January 1896. One year later, Mr. Serafín Galán Deheza was named justice of peace and Mr. Alfredo Álvarez, chief policeman. The Piedra del Águila Neighborhood Development Committee was created later on, in 1932. This committee established the town in the fields owned by the company El Cóndor S.A. and, in 1943, it managed the final ownership of the fifteen blocks.
In 1898, Piedra del Águila became a very important rearguard for the army divisions that were stationed in Junín and San Martín de los Andes in those days. Their aim was to consolidate the sovereignty of those regions recently integrated into the Argentinian State.
Even today, the remains of fort Nogueira, which owes its name to an officer who had fallen in the combat against the natives, can be observed lying 15 kilometers away from Pichi-Picun-Leufú Creek. These ruins lie within the property of estancia Fortín Nogueira. As well, the remains of Fort Cabo Alarcón, which used to be located close to the confluence of Picún-Leufú Creek and the Limay River, may be observed today.
Piedra del Águila hydro-electric power station -highly significant and outstanding in the area- was built over the Limay River in 1983, 25 kilometers away from Piedra del Águila, at Villa Rincón Chico.