Associated with Parashurama
The installation of the idol and the construction of the temple is attributed to Parashurama, an incarnation of Vishnu who, as is now well known, had consecrated several temples sacred to Siva and Vishnu for the spiritual well being of the people of Kerala. One day while being airborne northward his eyes chanced upon the beautiful linga at Vaikom, radiating glory all round. Overwhelmed with joy he descended to the spot and embraced the linga in knee-deep water.
He raised a square platform by heaving up earth and "'tailed the linga on it according to Sankarshana rites. It is on this square that the present temple stands. The platform is about 2 feet in height and the linga itself is about five feet.