When the established church was torn apart by the Free Presbyterian movement in 1843, Tullibody Auld Kirk suffered like many other churches in Scotland as the congregation split.

After this, there were only occasional services at the kirk until March 1879 when regular fortnightly services were implemented by the minister and Holy Communion took place twice a year. Less than a century later, it was abandoned for the final time. In 1904 it was deemed unsafe, and the new parish church of St Serf next to it was opened that same year. In 1916 the roof was removed.

Inside the ruins is an ornate 17th century monument to local laird George Abercromby of Tullibody, set with Corinthian columns and a pediment decorated with his coat of arms. He died in 1699 with the cemetery surrounding it becoming the burial place of the Abercromby family over the next few centuries. The re-roofing of the church in 1824 was done to protect this headstone. On the south wall is a memorial tablet to Robert Anderson, a successful merchant at St Lucar, Spain, who had been born in Tullibody. He died in 1712 and, in his will, bequeathed £50 to the poor of Tullibody, as well as £50 to the poor of Alloa. The monument was erected by his nephew Richard Main, who inherited his estate.

In 1758, a stone wall was built around the kirkyard at a cost of just over £35. Coping stones were added in 1760. George Abercromby also thought the addition of trees inside the wall would enhance the surroundings, but the sexton Robert Mason disagreed, so much so he pulled the newly planted trees out by the roots. Angered by this, Abercromby replanted them. Mason pulled them out once more. The sexton was then imprisoned in Clackmannan jail for his actions for a short time, and when he returned, new trees had been planted. This time, instead of pulling them out, he poured boiling water on them. Eventually trees were planted outwith the kirkyard.

Among the old tombstones in the graveyard is the stone coffin of Martha Wishart, otherwise known as the Myretoun Maid. Legend states she fell pregnant to the local priest Peter Beaton who abandoned her. She died before giving birth to their child but wanted to remind him of the ill he had done to her by having her coffin by the entrance of the church. Another grave of note is William Aikman the baker who taught Robert Dick, the botanist and geologist, his trade when he was a youngster.