Although there is no recorded history of the temple, numerous stories circulate about its prosperous past. Centuries ago, in Tamil Nadu's 'Mayavaram,' there lived a Brahmin family. Astrologers predicted that their child would succumb to a snake bite at the tender age of 16. Seeking a solution, they were advised to visit and pray at the 'Vidyanatha Temple' in Kanjirangad, near Thaliparamba-Kannur. Devastated yet hopeful, the anxious parents, accompanied by their son, made their way to the temple and began their prayers. In a significant dream, the boy saw that for further protection, he should seek refuge at the Thodeekalam Shiva Temple. Acting upon the more dream, they arrived at this temple, and on the boy's 16th birthday, after enjoying a birthday feast, he went to the temple pond to wash his hands. As he returned to the temple, a large snake emerged from a nearby hill and started following him. Fearful and in a rush, the boy ran towards the temple for safety. He sought shelter by embracing the idol of Lord Siva, and surprisingly, a small snake emerged from the idol and killed the large snake. The small snake then slithered away to a place called Malur and vanished. In gratitude for the miraculous event, the boy's parents acquired all the lands up to Malur and offered them to the temple. This act of generosity brought immense prosperity to the temple. However, with the passage of time and the implementation of land reforms and tenant laws, the temple lost all its properties. Despite the loss, the sacred memory lives on. On the 'Sapthami' day of the Malayalam month 'Vishika,' a procession is held, bringing a pair of tender coconuts and a traditional umbrella made of pine tree leaves to the temple. The very next day, 'Ashtami,' marks the celebration of a one-day festival at the temple.