It remains one of the most popular Christmas movies of all time and is the subject of a number of creative fan theories, some of which Culkin spoke to Fallon about.
"I've heard some ... that Kevin McCallister grew up to be Jigsaw from Saw," Culkin said. "There's also the Elvis one."
If you're not across the Elvis theory, some people believe that the singer not only faked his death in 1977 but that he missed show business so much that he made a cameo appearance in an airport scene in Home Alone.
Macaulay Culkin became a huge star after Home Alone's release and went on to make other popular '90s movies including My Girl (1991), Home Alone 2 (1992) and Richie Rich (1994).
He's currently shooting a movie called Changeland which is written and directed by Seth Green, and Culkin's also just launched his very own website which he describes as "kind of like Goop meets The Onion".
Unfortunately for Culkin, he's the regular victim of a celebrity death hoax and at least once a year rumours spread like wildfire that he's passed away.
"I die all the time," he joked to Fallon. "I used to see it as fun until it would affect other people.
"The first time it happened it was my lawyer who called me up. And he said — I was 15, 16 — and he says, 'Hey Mac, is this you?' and I go 'yeah' and he goes, 'Oh, okay just checking because CNN said you were dead. Okay bye.'"