Takshakeshwar Nath Temple has a rich historical background and is believed to have ancient origins. Archaeological digs in the area have uncovered rare and ancient stone sculptures, highlighting the temple's historical significance. Takshakershwar Temple not only is known to hold Takshak Nath but in the temple, you can find numerous Shiva Lingas and other deities like Maa Durga, Lord Ganesha, Lord Kartikeya and Lord Hanuman. Local legends claim that the temple hasn't been always in sight. It was situated in the middle of the dense jungle. It was later cleared up for more space and for devotees to visit. Interestingly, according to the priests, snakes visit Takshakeshwar Nath every day for darshan and move silently through the crowds without causing harm to anyone. on the auspicious occasions of Naga Panchami, Shukla Paksha Panchami in the months of Margashirsha and Shravan, Lunar and Solar eclipses, Amavasya, and Purnima, this phenomenon has been witnessed multiple times.

It is a belief that two decades ago, the presence of snakes at the Takshakeshwar Nath temple increased significantly during the month of Sawan. It is believed that the darshan of Shivling here gives freedom from Kalsarp dosha. It is believed that the devotees who visit Lord Shiva in Takshakeshwar Nath temple and their descendants get freedom from 'Sarp Vish Badha'.

The temple's structure is designed in a manner that is typical of Hindu temple architecture found across India. While specific details about the temple's architecture may vary, it typically features intricate carvings and sculptures, showcasing the craftsmanship of ancient artisans. The idols of various deities within the temple contribute to its aesthetic appeal.

At Takshakeshwar Nath temple, devotees offer fruits, milk, and laddoos to Lord Shiva. Along with this, Bhang, Datura, and Belpatra are also offered to Lord Shiva.