Located to the Southeast of the island, this temples lofty chedi is visible from most of the town. The monastery was built in 1900 by King U-thong who granted the temple with the name Wat Pa Kaew. The intention was to create a center of Buddhist studies (Ceylonese Sect). As the temple used to be headed by a patriarch, local people also called it Wat Chao Phraya Thai.
The present name was given granted to the temple by King Naresuan to commemorate a battle fought against the Crown Prince of Burma in 1592. His momentous victory a single-handed combat on the elephant back brought independence to Ayutthaya after 15 years as a Burmese dependent. Within the complex is a huge image of a reclining Buddha in brick and stucco. The chedi is bell-shaped, about 60 meters high, constructed on a mound of raised ground (15 X 32.4 X 32.4 m.) with steps going up to the Buddhist image placed midway to the top. The chedi itself now has a distinct tilt, but still can be entered via the stairs.
The Ubosot or ordination hall is windowless but ventilated by pierced holes stretching down the roof on both walls. Also situated in the compound is King Naresuans statue, which is highly revered by Thais. Admission fee is 20 bahts.