Built by King Dutugamunu (161-137 BC) and was his first stupa to be constructed. It was fully restored by the Department of Archaeology in 1993. The extent of this land is about 50 acres (20 ha). Although the king Kasyapa I and Kasyapa V renovated this, from time to time it was dilapidated. What stands now today is the Stupa with these renovations done in 1993.
The Mirisaveti stupa was built in the place where the scepter of King Dutugemunu stood in which the Buddha relics were placed. The king, after defeating King Elara had gone for a bath at the Tisawewa, leaving the sceptre at the place the Stupa was later built. It is also said that he remembered that he partook a chilly curry without offering it to the Buddhist clergy. In order to give alms as compensation to the clergy, he built the Mirisavetiya Dagaba.