This holy temple is associated with the Pandavas, the heroes of the ancient epic Mahabharata. As the legend goes, after crowning Parikshit as the king, the Pandavas left on a pilgrimage tour throughout the country. In Kerala, they all established Vishnu temples at different places – Yudhishtira at Chengannur, Bheema at Thiruppuliyur, Arjuna at Aranmula, Nakula at Thiruvamundur, and Sahadeva at Thirukkadittaanam.
Sri Parthasarathy Temple is named after Arjuna (also known as Partha) and Lord Krishna (incarnation of Lord Shiva; also known as Parthasarathy or the charioteer of Partha). Initially the temple was made out of 6 pieces of bamboo. It is the place where Arjuna relieved himself of the sin for killing Karna, who was Nirayuthapani (weaponless) in the battlefield. According to ethics, one is not supposed to kill an unarmed enemy in the battle.
The main diety is called 'Thirukkuralappan' in local language. A grand festival 'Aarattu festival' is organized in Arnakulam during the malayalam month of Meenam, in which Parthasarathy is taken in a grand procession on Garuda (Garuda Vaahanam). Apart from that, the image of Goddess Bhagawathi from the nearby Punnamthode temple is also brought in the procession.