Last month the Pan-STARRS 1 telescope in Hawai'i picked up a faint point of light moving across the sky.
It initially looked like a typical fast-moving small asteroid, but additional observations over the next couple of days allowed its orbit to be computed fairly accurately.
The orbit calculations revealed beyond any doubt that this body did not originate from inside the solar system, like all other asteroids or comets ever observed, but instead had come from interstellar space.
The name, which was chosen by the Pan-STARRS team, is of Hawaiian origin and reflects the way this object is like a messenger sent from the distant past to reach out to us, researchers said.
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When the 'Oumuamua was spotted, it had already passed its closest point to the Sun and was heading back into interstellar space, researchers said.
European Southern Observatory (ESO)'s Very Large Telescope (VLT) was immediately called into action to measure the object's orbit, brightness and colour more accurately than smaller telescopes could achieve.
"This unusually large variation in brightness means that the object is highly elongated: about ten times as long as it is wide, with a complex, convoluted shape," said Meech.
"We also found that it has a dark red colour, similar to objects in the outer Solar System, and confirmed that it is completely inert, without the faintest hint of dust around it," she said.
Preliminary orbital calculations suggested that the object had come from the approximate direction of the bright star Vega, in the northern constellation of Lyra.
However, even travelling at a breakneck speed of about 95,000 kilometres per hour, it took so long for the interstellar object to make the journey to our Solar System that Vega was not near that position when the asteroid was there about 300,000 years ago.
Astronomers estimate that an interstellar asteroid similar to 'Oumuamua passes through the inner Solar System about once per year, but they are faint and hard to spot so have been missed until now.
It is only recently that survey telescopes, such as Pan- STARRS, are powerful enough to have a chance to discover them.