The history of Anantheshwara Temple is deeply intertwined with that of Udupi itself. Legend has it that the temple predates the Sri Krishna Temple and is associated with the origins of Udupi as a sacred place. It is believed that the temple was initially a simple shrine and gradually evolved over centuries with contributions from various dynasties and devotees. The temple's architecture reflects different periods, showcasing the region's artistic and cultural influences. The presence of inscriptions and historical records further validates its antiquity. It is said that Madhvacharya, the founder of the Dvaita Vedanta school of philosophy, used to visit this temple regularly. The temple has been a significant center for religious and cultural activities, preserving the traditions and values of the region for generations.