The story of Prince Vijaya in Sri Lankan Chronicles has brought diverse aspects of Sri Lanka’s history and culture to the foreground. It has also evolved several arguments regarding the socio-cultural and economic divulgences of the two countries where the unique characteristics have sometimes been dissolved or diluted in order to maintain the influence and inspiration of the great tradition of the neighboring soils. However, emerges a background to analyze the existing data and evidence to revitalize the precision of the chronicler information in terms of identifying the socio-economic and cultural background of the country during the period. A detailed survey typically highlights the nature of performing arts in the island at the time of Vijaya’s arrival attenuating the established assumptions that there is an undeniable Indian influence on Sri Lanka’s dance tradition. It is a proven fact that there is a transmigration of socio-economic and cultural elements from one to another society with the migration of civilizations due to climatic, geographic, and socio-economic reasons, one might not assume that it is an influence from the great tradition or a subculture of it. The same theory can be applied to the history and evolution of performing arts in the island from a broader perspective on par with the existing theories and the evidence. Thus, the present study engaged in a qualitative content analysis of the Vijaya–Kuveni story in Mahawamsa, Wansaththappakasini, Mahawamsa Tikawa, along with the report about the Vijayapura Research Excavation by Shiran Deraniyagala (2004) to establish facts and the basis of the history of performing arts in Sri Lanka to answer the question whether dance and music evolved with the arrival of Prince Vijaya to this island. Empirical evidence revealed from the Chronicle Mahavamsa informs that Princess Kuveni was the daughter of a regional leader of the island, and she was leading one territory in the country. She was spinning under a tree (more precisely using cotton yarn) and was looked after by a female watchdog that was by her side. When Prince Vijaya arrived in the country, there was a hermit who welcomed the prince to the island and informed him that this was a peaceful island where there were no humans: also mentioned that the land was fertile and that the prince could enjoy himself there. A proper examination and analysis of the particular scenario reveals that the economy, politics, culture, and the society of the island were not a sudden establishment, but a prolonged evolution of a standard government with a well-established operational mechanism. The settlement near the riverine basins, traditional clothing industry, agriculture as the main economic gain, the governance of city-states, the village customs, marriage traditions, and the festivities reveal that the island had been endowed with rich socio-cultural and economic systems that enriched the nation by considering its welfare and wellbeing at its best. To substantiate these particular assumptions, the Vijayapura Research Excavation in Anuradhapura by Shiran Deraniyagala reveals the remains of a civilization dating back to around 900-800 BCE. Thus, the present study aims at identifying the so-called Sri Lankan demographic identity allowing the readers to re-think and re-write the nature of society, culture, and performing arts in the island, by blending the empirical evidence and existing archeological findings.