Portland stone is a limestone geological formation (formally named the Portland Stone Formation) dating to the Tithonian age of the Late Jurassic that is quarried on the Isle of Portland in Dorset, England. The quarries are cut in beds of white-grey limestone separated by chert beds. It has been used extensively as a building stone throughout the British Isles, notably in major public buildings in London such as St Paul's Cathedral and Buckingham Palace. Portland stone is also exported to many countries, being used for example at the United Nations headquarters in New York City.

Portland stone formed in a marine environment, on the floor of a shallow, warm, sub-tropical sea probably near land (as evidenced by fossilised driftwood, which is not uncommon). When seawater is warmed by the sun, its capacity to hold dissolved gas is reduced; consequently, dissolved carbon dioxide (CO₂) is released into the atmosphere as a gas. Calcium and bicarbonate ions within the water are then able to combine, to form calcium carbonate (CaCO₃) as a precipitate. The process of limescale build up in a kettle in hard-water areas is similar. Calcium carbonate is the principal constituent of most limestones. Billions of minute crystals of precipitated calcium carbonate (called calcite) accumulated forming lime mud (called micrite) which covered the sea floor. Small particles of sand or organic detritus, such as shell fragments, formed a nucleus, which became coated with layers of calcite as they were rolled around in the muddy micrite. Portland stone measures 3.5 on the Mohs scale of mineral hardness.

The calcite gradually accumulated (by accretion) around the fragments of shell in concentric layers, forming small balls (of less than 0.5 mm diameter). This process is similar to the way in which a snowball grows in size as it is rolled around in the snow. Over time, countless billions of these balls, known as "ooids" or "ooliths" (from the Greek for "egg-shaped" or "egg-stone"), became partially cemented together (or lithified) by more calcite, to form the oolitic limestone that is called Portland stone. The degree of cementation in Portland stone is such that the stone is sufficiently well cemented to allow it to resist weathering, but not so well cemented that it cannot be readily worked (cut and carved) by masons. This is one of the reasons why Portland stone is so favoured as a monumental and architectural stone. Geoff Townson conducted three years doctoral research on the Portlandian, being the first to describe the patch-reef facies and Dorset-wide sedimentation details. Ian West of the School of Ocean and Earth Sciences at Southampton University completed a detailed geological survey of Withies Croft Quarry before the Portland Beds were quarried by Albion Stone plc.

Stone has been quarried on Portland since Roman times and was being shipped to London in the 14th century. Extraction as an industry began in the early 17th century, with shipments to London for Inigo Jones' Banqueting House. Wren's choice of Portland for the new St Paul's Cathedral was a great boost for the quarries and established Portland as London's choice of building stone. The island was connected by railway to the rest of the country from 1865. Albion Stone PLC has been quarrying and mining Portland stone since 1984. Portland Stone Firms Ltd have been quarrying Portland stone since 1994.

Jordans is part of the Inmosthay Quarry in the centre of the island, which also includes Fancy Beach. The quarry has been worked since the late 19th century. Albion Stone leases the southern section from The Crown Estate and purchased the northern part of the site in 2006. The majority of the southern reserves lie under the grounds of the local cricket club. To avoid disturbing the site at surface level, the company has applied and received permission to extract the stone using mining rather than quarrying techniques. The reserves to the north will be quarried using the diamond bladed cutting machines, hydro bags and wire saws to shape the blocks. This process avoids the use of dusty and noisy blasting as the primary extraction method, thereby protecting the surrounding environment, which has been designated as a Site of Special Scientific Interest (SSSI). Albion Stone PLC now extract all their stone through mining which dramatically reduces the impact on the environment and local residents. Jordan's Mine is currently the biggest mine on Portland.

Bowers Quarry has been operational since the late 18th century. It has been leased from The Crown Estate since 1979, and in 2002 it became the site of the first Portland stone mine by Albion Stone PLC. Extraction from this site is now completely underground, with the original Bowers Mine in the extreme southern end of the quarry and the High Wall Extraction on the eastern and south east boundaries. High Wall Extraction is a series of small mines that extract otherwise wasted stone that sits between the final faces of the quarry and the actual boundary of the site.

Stonehills Mine is the first completely new mine on Portland (not a mine as an extension from an existing quarry). Albion Stone Plc began the process to open this mine in 2015 and reserves are estimated to last for 50 years (2066).

Independent Quarry and Admiralty Quarry are both owned by The Crown Estate and have been leased since 1982. These quarries have been worked since the mid-19th century with the final dimension stones coming out of Independent in 2006, although some stocks of Portland stone block still remain.