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.
King Dutugamunu after defeating the invading South Indian King Elara, built the Mirisaveti Stupa. After placing the Buddha relics in the scepter, he had gone to Tisawewa for a bath leaving the scepter. After the bath he returned to the place where the scepter was placed, and it is said that it could not be moved. The stupa was built in the place where the scepter stood. . It is also said that he partook a chilly curry meal without offering it to the sangha (monks) and in order to punish himself for this act, he built the Mirisavetiya Stupa.