Earlier thought to be a monument of King Elara,[2] it was later identified as the Stupa of ancient Dakini (Dakkhina) Vihara by Senarath Paranavithana with the help of a Brahmi inscription of the 3rd century A.D. unearthed from the ground between the southern and western Vahalkadas of the Stupa.

[3][4] This structure was for centuries locally known as the tomb stone of king Ellalan, known as Elara Sohona, which was worshipped by Tamils and Sinhalese.

[7][8] Although, some did not agree with this identification[9] some are in the opinion that this Stupa may have been built over the cremation site of King Dutugemunu.

[11] The structure was popularly known as Elara Sohona, the tomb of 2nd century BCE king Chola Tamil king Ellalan (c. 205 – c. 161 BC), who invaded Sri Lanka and ruled the Anuradhapura Kingdom for over 40 years.

But in the mid-19th centuries James Fergusson a Scottish architect and writer who studied History of Indian and Eastern Architecture, had mentioned (1876) this structure could not be the Elara's tomb.