It was first built on Mount Trai Thuy in 1886 and named the Dang Long Pagoda. In 1900, it was damaged in a storm and was rebuilt at the foot of the mountain. The pagoda underwent further restorations in 1940, 1971 and 1975.

Among the interesting things to see is a naturally-lighted image of Buddha. There is also a 14m red brass statue of Buddha sitting on a lotus pedestal.

This pagoda also commemorates the monks and nuns who died struggling against the Diem government's persecution of Buddhists in the South.