The Shivalingom embedded and installed in this temple, it is believed, belonged to Trikanna Mathilakam, in Trichur District. Dissentions among the Uralers, Thekkedath and Vadakkedath Nairs led to the decline of the temple and later on the place went into the hands of the Dutch from Samoothiri.
A unique feature of this temple is that on the 7th day of Mahotsava and Rathotsava Thirumala Devar is taken in grand procession to the Udyaneswara Temple, the assumption being that Lord Venkatesa goes to meet Lord Udyaneswara to invite him for Pallivetta i. e. hunting. This may also be considered a symbol of cordiality between Vaishnavites and Saivites.