It serves as an irrigation dam, reaching out to the paddy fields in and around Thrissur city.

Built across the Manali River, the dam has a catchment area of nearly 3,200 acres (1,300 ha).

Elephants may be seen on the bank of Peechi-Vazhani Wildlife Sanctuary, established in 1958, covering 125 square kilometres (48 sq mi).

E. Ikkanda Warrier (1890–1977), the first Prime Minister of the then independent state of Kochi, India, was the architect of Peechi Dam.

Burgula Ramakrishna Rao, first Kerala Governor, inaugurated the dam on 4 October 1957.