The Glowing Stone is a green stone and a powerfull stone witch it can destroy the Swan Princess. The legend said:
In a comming day there will be a Swan Princess.
She will Usher in an age of Goodness.
And in her Presence
Pure Evil will not survive.
Behold The Glowing Stone
Must be kept hidden
For if evil process it
It will have the power to withstand
the presence of the Swan Princess
and destroy her.
In the movie the Glowing stone it was hidden by a Flying Squirl in it cave named Squirly (called by Odette). When Odette touches the silber box the Evil Force notice it. So he notice that Odette is the Swan Princess by only touching the box. So with the help of the flying Squirls they tried to keep it save so the Evil Force whould not hurt Odette. But then the Evil Force had it and sends off tod estroy the Swan Princess on his own.