The annual Bellanwila Esala Perehera (procession) initiated by the late Ven. Sri Bellanwila Somaratana Nayake Thera in 1950, is second only to the Dalada Maligawa Esala Perehera in Kandy. It was inaugurated as homage to the Buddha whose blessings were invoked to appease a contagious disease in the area. According to legend, the disease was brought under control after the perehera was held.

The Bellanwila Esala Pinkama (religious ceremony) commences with a seven day pirith chanting ceremony. The Dorakada Asna at the culmination of pirith chanting marks the beginning of three consecutive days of perehera within the temple grounds. This is followed by the Pāvada Perehera, which parades through the streets of Bellanwila and neighboring villages.

The annual Perahera, is a cultural event that is eagerly looked forward to by devotees. Held in the traditional way, the procession with elephants, dancers and other items of cultural interest takes to the streets around the temple during the month of July.

An extremely colorful pageant as well as an expression of the religious devotion and piety of the Buddhist people. The large number of elephants that parade in the perehera enhance its majesty and stateliness.