In 1487 the King Tilokarat; 9th of the Mangrai monarchs; died; leaving the throne to his grandson; King Yot Chiang Rai (1487-95). According to the Yonok Chronicle; during Yot Chiang Rai's reign; an itinerant monk was wandering through the forest area between Chiang Mai City and Doi Suthep when he saw miraculous rays of light emanating from the ground beneath a large; old tree. On learning of this; King Yot Chiang Rai was curious; and set out on elephant back to investigate; vowing: 鈥榠f there are sacred relics to be found; and I am fortunate enough to become a patron of Buddhism; then let the elephant stop where the relics are buried'.

In time the elephant did stop; and a container 鈥榠n Chiang Saen style' was unearthed; containing a tooth thought to be that of the Buddha. Yot Chiang Rai venerated the relic and held a great religious celebration at which the tooth 鈥榮hone with a radiance like the moon at the start of the lunar month'. It was then placed in a gold reliquary; and installed in a chedi that was constructed at the place where it had been found. This marked the foundation of Wat Rampoeng Tapotharam.

In 1974; Phrakhru Pipatkanapibarn; the abbot of Wat Muang Mang in Chiang Mai's Haiya District; decided to establish a meditation centre at Wat Rampoeng. It has remained an internationally recognised meditation centre ever since.