Built by King Dutugamunu the Great (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).
It is believed that the great king Dutugemunu made many wishes here that have come true during his lifetime.
Dutugemunu built it as a Dagoba of the “Mahavihara” fraternity but as the monks started living there, it sees that Mirisawetiya developed as a separate monastery. However it is believed that it would have functioned as a monastery belonging to the Mahavihara Fraternity.
Several Kings, at different intervals made renovations to the Dagaba. Among them are King Gajabahu 1 (112-134 AC), and King Voharika Tissa (214-236 AC). What stands now today is the Stupa with these renovations done in 1993.