The precise date when the Exeter Book was compiled and written down is unknown, but it is rightly acknowledged to be one of the great works of the English Benedictine revival of the tenth century, and proposed dates for it range from 960 to 990. This period saw a rise in monastic activity and productivity under the renewed influence of Benedictine principles and standards. At the opening of the period, Dunstan's importance to the Church and to the English kingdom was established, culminating in his appointment to the Archbishopric at Canterbury under Edgar and leading to the monastic reformation by which this era was characterised. Dunstan died in 998, and by the period's close, England under Æthelred faced an increasingly determined Scandinavian incursion, to which it would eventually succumb.
The Exeter Book's heritage becomes traceable from 1072, when Leofric, Bishop at Exeter, died. Among the treasures which he is recorded to have bestowed in his Will upon the then-impoverished monastery, is one famously described as "mycel Englisc boc be gehwilcum þingum on leoð-wisan geworht" (i.e., "a large English book of poetic works about all sorts of things"). This book has been widely assumed to be the Exeter Codex as it survives today.
Some marginalia were added to the manuscript by Laurence Nowell in the sixteenth century and George Hickes in the seventeenth.