The legend is that an old woman sweeper of Pazhaya Sreekanteswaram temple distinguished the Swyambhoo (self manifested) Shiva Linga idol while she was resting at this place. She got 'Darshan' (vision) of Lord Shiva at the spot at the temple site.
Goddess Parvati Devi's (Lord Shiva's wife) is also presence in this temple even though there is no shrine for her. The deity is called Gowri Shankara in this belief.
Many devotees attend the Nirmalya Darshan (which is witnessing the deity with the decoration of previous night when the temple reopens at 4 AM) and Mrithyunjaya Homam, which are believed to be benevolent for the devotees.
The principal deity is Lord Shiva. Sub-Deities are Maha Ganapathy, Lord Murugan, Anjaneya Swamy, Sree Krishna, Swamy Ayyappan, Nagarajah.