Band member Justin Hayward wrote and composed the song at age 19 in Swindon, and titled the song after a girlfriend gave him a gift of satin bedsheets. The song itself was a tale of a yearning love from afar, which leads many aficionados to term it as a tale of unrequited love endured by Hayward.
It was first featured as the segment “The Night” on the album Days of Future Passed. When first released as a single in 1967, it reached number 19 on the UK Singles Chart and number 103 in the United States in 1968.
Recording session for the song took place at Decca Studios in West Hampstead, London and released in November 1967 by Deram Records. The introduction of the song also features an orchestral accompaniment which is played by the London Festival Orchestra and is also featured in the final rendition of the chorus.