The temple is traditionally attributed to the Early Chola king Kochengannan (Kochenga Chola), a Sangam-era ruler who is historically placed in the early centuries CE. According to the Periya Puranam and other Tamil texts, Kochengannan built 70 Shiva temples across the Chola kingdom, and Jambukeswarar is regarded as the foremost among them. The core shrine dates to approximately the 1st-2nd century CE, making it among the oldest standing temple structures in Tamil Nadu.
The temple was extensively expanded by the Later Cholas (9th-13th centuries), as documented by numerous inscriptions recording grants of land, villages, and gold. The Hoysalas made additions in the 13th century when they controlled the region. The Nayakas of Madurai (16th-17th centuries) added the outer prakarams, gopurams, and mandapas. In the 20th century, the Nattukottai Chettiars (Nagarathars) funded major renovations.
The temple has functioned continuously as a centre of worship for over 1,800 years. The temple's administrative and ritual traditions follow the Shaiva Agama and the Tiruvanaikaval is historically a landmark centre of Tamil Shaivism.
