URI Geller plans to seek permission to excavate his tiny island in the Firth of Forth, after being "mesmerised" on his first trip there.
The self-styled "mystifier" said he plans to return to Lamb Island this summer, after spending Saturday night camping on the island. He said he had a strong feeling there is buried treasure there, after exploring the island with dowsing rods.
The 63-year-old bought the island, which measures just 100 yards by 50, for 30,000 last year. He believes it is one of the UK's most historically important sites.
He set off from North Berwick on Saturday, after giving a lecture at the Scottish Seabird Centre, to raise funds for its work. Although he described the rocks as "almost treacherous", he safely landed on the island.
But he was not able to dig on the island this weekend, to avoid harming plant and wildlife.
He said he hoped to win permission to search for the Egyptian treasure which he believes could be buried there. His theory is that Princess Scota, the sister of Tutankhamen, was exiled there after fleeing Egypt 3,000 years ago, and she may have left gold and jewels behind.
He said: "It was a very tough trip. It was hard to get on to the island. It is very steep and slippery, and we had a lot of equipment.
"But once on the island, it was amazing. It was mesmerising. It was everything I expected and more.
"It was a fantastic night, although it was freezing. I put up my tent but I didn't sleep. I wanted to experience every moment of being there.
"I used my dowsing rods and I did feel something. I will approach the official channels for permission to excavate.
"There is a place where I think there is something, but it is a very long shot."
He was accompanied by a photographer and his brother-in-law, Andy Strangeway, nicknamed "Island Man", as he has slept on 168 of Scotland's islands.
Although Mr Geller did not find any treasure, he left a crystal sphere, which once belonged to Albert Einstein, and a heart-shaped piece of quartz. He also enjoyed visiting Rosslyn Chapel, before leaving yesterday .
He plans to return in the next six months, after completing a tour with his latest television show.
He said: "I made some great friends, and I feel I'm part Scottish now. I love Scotland more than ever. I was overjoyed I managed to buy this island.
"I'm amazed the Scottish Government allowed it to be sold. But I will make sure it will stay an animal sanctuary."
Tom Brock, chief executive of the Scottish Seabird Centre, said he had been delighted to welcome Mr Geller, who is a regular supporter and donor.
Mr Brock said: "We had been looking at the Lamb purely from a wildlife perspective so it's been fascinating to hear Uri's thoughts on it, particularly as he does seem to take the conservation aspect very seriously. The Lamb may have long been in the shadow of its world famous big brother, the Bass Rock, but we're delighted that, thanks to Uri, it's going to become better known."