As per Hindu legend, Venkateswara believed to have appeared for the sage Kanva to save him from the yaksha Devandagadagan.

The Wodeyars of Mysore commissioned pillared halls and major shrines of the temple during the 16th century.

The temple is maintained and administered by the Hindu Religious and Endowment Board of the Government of Tamil Nadu.

The place finds mention in Skanda Purana, which has eight chapters detailing the legend of the temple.

As per Hindu legend, Devandagadagan, a yaksha and the relative of the famous king Kubera, once got a boon from Brahma that he would get endless powers.

He was very proud of his powers and started troubling the devas, the celestial deities, and the sages who were doing penance in the region.

The sage and the yaksha were blessed with the auspicious vision of Venkateswara, who made the place his abode.

When there were threats from Muslim rulers in the region, the image of the presiding deity was hidden by a devotee named Venkatapahty Rayar in the forest.

The Vaishya community in the region is believed to have contributed to the major halls and shrines of the temple.

There Mahamandapa houses the images of sage Kanva, Vedanta Desikar, Manavala Mamunigal, the Alvars, and Ramanuja.