Colonists in the area first called the settlement Stringtown, then later called it Clear Creek when the post office was established in 1855. The name of the settlement changed once again to Powell before it took on Pyatt. The city was incorporated in 1929 when the railroad entered the area.

Though small at just over one square mile, Pyatt has four structures in the National Register of Historic places, including the original old school house which was built in the early 1930s from hand-quarried rock. The first bank, the Bank of Pyatt, is still standing. It has been renovated but retains the original look and structure. The bank building is also made from hand-quarried stone.

Information sourced from the Encyclopedia of Arkansas.