The Treasure Trove Unit (TTU) confirmed the discovery of an elfshot amulet in April.
Uncovered near Fortrose by metal detectorist Lawrence Deans, the artefact contains a Bronze Age flint arrowhead which had been found by someone in the 17th or 18th Century and mounted in a silver pendant as a charm.
In the past, people believed small, prehistoric arrowheads they found in fields were the weapons of elves and fairies and fired at cattle, horses and even humans to cause them harm.
TTU said some people believed that turning elfshot into a charm could heal injuries and protect against being attacked again.
The amulet is to go on display at Groam House Museum in Rosemarkie next year.
Dr George Prew-Stell, treasure trove officer at National Museums Scotland, said: “This is a wonderful example of people in the past finding and reusing objects made by communities who lived on the same land millennia earlier.
“This artefact provides a rare, tangible example of two of the most wonderful things about studying historic communities: folklore, and people interacting with their own past.”