In early 1938, the success of Superman in Action Comics prompted editors at the comic book division of National Publications (the future DC Comics) to request more superheroes for its titles. In response, Bob Kane created "the Bat-Man". Collaborator Bill Finger recalled Kane had an idea for a character called Batman, and he'd like me to see the drawings. I went over to Kane's, and he had drawn a character who looked very much like Superman with kind of ... reddish tights, I believe, with boots ... no gloves, no gauntlets ... with a small domino mask, swinging on a rope. He had two stiff wings that were sticking out, looking like bat wings. And under it was a big sign ... BATMAN.

Finger offered such suggestions as giving the character a cowl instead of a simple domino mask, a cape instead of wings, and gloves, and removing the red sections from the original costume. Finger said he devised the name Bruce Wayne for the character's secret identity: "Bruce Wayne's first name came from Robert Bruce, the Scottish patriot. Wayne, being a playboy, was a man of gentry. I searched for a name that would suggest colonialism. I tried Adams, Hancock ... then I thought of Mad Anthony Wayne." Various aspects of Batman's personality, character history, visual design and equipment were inspired by contemporary popular culture of the 1930s, including movies, pulp magazines, comic strips, newspaper headlines, and even aspects of Kane himself. Kane noted especially the influence of the films The Mark of Zorro (1920) and The Bat Whispers (1930) in the creation of the iconography associated with the character, while Finger drew inspiration from literary characters Doc Savage, The Shadow, and Sherlock Holmes in his depiction of Batman as a master sleuth and scientist.

Kane signed away any ownership in the character in exchange for, among other compensation, a mandatory byline on all Batman comics. This byline did not, originally, say "Batman created by Bob Kane"; his name was simply written on the title page of each story. The name disappeared from the comic book in the mid-1960s, replaced by credits for each story's actual writer and artists. In the late 1970s, when Jerry Siegel and Joe Shuster began receiving a "created by" credit on the Superman titles, along with William Moulton Marston being given the byline for creating Wonder Woman, Batman stories began saying "Created by Bob Kane" in addition to the other credits.

Finger did not receive the same recognition. While he had received credit for other DC work since the 1940s, he began, in the 1960s, to receive limited acknowledgment for his Batman writing; in the letters page of Batman #169 (Feb. 1965) for example, editor Julius Schwartz names him as the creator of the Riddler, one of Batman's recurring villains. However, Finger's contract left him only with his writing page rate and no byline. Finger, like Shuster, Siegel, and some other creators during and after the Golden Age of Comic Books, would resent National's denying him the money and credit he felt was owed for his creations. At the time of Finger's death in 1974, DC had not officially credited Finger as Batman co-creator. Kane himself, however, in later years willingly acknowledged Finger's contributions to the character while also insisting on his own role.