The name of the village is first mentioned in a document of 1311. After the castle of Debrő was pulled down the village was attached to the castle of Ónod and fell to the crown. In 1603 the estate of Debrő was purchased by Zsigmond Rákóczi, who subsequently became Prince of Transylvania, so the village was joined to the Rákóczi domain. Parts of the Rákóczi domain fell to the crown after the War of Independence. Since 1730 posessory rights of the village were acquired first by Antal Grassalkovich and then, in the 19th century, by György Károlyi. By that time the name of the settlement has become Mátraballa. The Roman Catholic church, first mentioned as a stone building in 1696, is one of the major sights of the village. There is a war memorial in front of the church. Recreation is offered to sports-enthusiasts by one of the few tennis courts of the Mátra Mountains. With its quiet and serene atmosphere Mátraballa can definitely be recommended for tourists. Some years ago a Regional Village Museum was opened presenting the relics of the traditional way of life of peasants. The latest monument of the village is the 'Millennium Mythical Stag' unveiled in the summer of 2001. The statue standing on a 300-centner rock in the middle of the well-maintained park was made by sculptor Róbert Király from Eger.