St Catherine's Point is a headland southwest of Fowey, probably more well known for its castle ruins. The lighthouse was built to mark several hazards at the approach to the mouth of the River Fowey and the entrance to Fowey Harbour, it was particularly useful for vessels approaching from the east, which had difficulty sighting the older Whitehouse Point light in the town.

In 1902, the Harbour Commissioners proposed to Trinity House that a light be established at St Catherine's Point, originally intending to relocate the Whitehouse Point light there. Nothing came of plans to relocate the light from Whitehouse Point, and instead a new light was established.

The lighthouse was built in 1904, with its lantern room manufactured by Chance Brothers. Operating unwatched from the very beginning, the light was first lit on January 7th, 1905. It boasted a range of 15 nautical miles, exhibiting a light for 2 seconds followed by a 3-second eclipse. Interestingly, the Notice to Mariners published to announce its operation on that date described the octagonal base around the lantern as an "octagonal concrete tower." Scarcely a foot high, this may indeed be the shortest lighthouse tower in existence.

Unfortunately, since its old lamp and Fresnel lens were replaced by a modern LED unit mounted on the railings surrounding the lantern room, circa 2010, the lighthouse appears to have been entirely abandoned and has fallen into a state of dereliction. It may now be beyond saving, as the salty air takes its toll on the exposed metal. The lantern room door is badly corroded, leaving its circular ventilators exposed. Vandalism has also been very detrimental to the lighthouse; Several panes of lantern glazing have been smashed out, and the equipment building that stands nearby has had its door removed, and is covered by graffiti.