This temple is more than 1200 years old, according to historical evidence. There was a Maha Yogi who used to stay at the Vaikam Mahadeva temple, worshipping the Lord with great devotion. As he was returning from there and walking towards the north, he came to the place where this temple stands now. He went to the pond there to have a bath, leaving his palm leaf umbrella on the banks. On coming out after the bath, he could not take the umbrella as it had become fixed on the spot. He could see a bright effulgence at that spot. An unbodied voice told him that the more spot where he had placed the umbrella was a sacred place. It was also said that a temple would come up there and lots of devotees would visit the place. The place where he had placed the umbrella, kutavecha sthalam in Malayalam, later came to be referred to as Kodakaparambu. A temple was constructed when Royalty ruled the country. The self-originated idol of Mahadeva has proved to be the refuge for many devotees suffering the difficulties of our times. Ganapathy, Ayyappa and Kavu are also consecrated in this temple.