It has been believed that the aura of this temple is such that visitors return back with greater peace of mind and harmony. The Vidyashankara temple has been of greater importance for the Hindu devotees who visit this temple to offer their prayers and to attain blessings from lord Vidyashankara. It is believed that a person once visiting this temple would be freed from all the sins and will never possess any kind of scarcities in life.
It can be stated that Sringeri has been the place of Advaitha mathas that was constructed by Adi Shankara. The temple is still worshipped following the traditions of the eighth century. The two well-known pontiffs of the Sringeri Matha are Vidyashankara and his follower named as Vidyaranya who is considered to be a renowned person in the history of Karnataka. During his period, Muslims started to attack into the south. It was Vidyaranya who played a vital role by assisting his brothers named Harihara and Bukka to build the Vijayanagara Empire and to protect Hindu tradition as well as temples from Muslim invaders. It is often believed that Vidyaranya was capable of persuading his brothers to make a temple built over the Samadhi of his Guru, Vidyathirtha. The temple is also famous as Shankaracharya Temple because of the fact that it is linked with Adi Shankaracharya. The myth behind the location of the temple is associated with the story of Adi Shankara who was looking for a place to build his first institution. Suddenly he saw a frog giving birth to its offspring under the shelter made by the hood of a cobra. Therefore, he considered that a place that was capable of developing love between two natural enemies must be converted into a sacred place. He stayed here for 12 years and build the Sharada Peetha.
Sharada Peetha had various spiritual leaders and has also enjoyed the support of numerous rulers who assisted it to flourish and protect from various invaders.
Vidyashankara temple seems to have been built in an interesting manner that is similar to an old Chariot. The temple tends to combine the characteristics of Dravidian as well as Vijayanagara style. There are total of six doors, twelve pillars that surround the mandapa. The pillars have been made in such a way that the sun rays reflects upon each of the pillars in sequential manner of the twelve months of the calendar. There are total of five shrines in the temple such as Shiva Linga, Brahma, Vishnu, Shiva and Durga. There is a broken sandalwood statue of Sharadamba that was placed by Adi Shankara. The statue was later damaged during the Muslims attack and thus Vidyaranya installed gold idol of Sharadamba instead of it.
The temple has been built in a manner that devotees attain lots of positive energy and the power of the Almighty. It is also built keeping in mind of gathering as well as to provide suitable ambiance so that the devotees can offer prayer with peace of mind and concentrate on the god and offer their prayers.