Folklore suggests that once a region king made an offering for god Natha, if he would be cured of a serious itchy skin disease he was having he would make a statue. To keep his promise once he got cured he built this amazing statue of the god Natha. Got Natha is believed to be the next Buddha.
The statue can be accessed from the Weligama old main road. It resembles the Maitreya Bodhisattva statue in Buduruwagala. It is believed that Natha is another name for maitreya bodhisattva who is believed to be living in a heavenly realm until his time to be reborn and become the next Buddha.
Another theory about the identity of the statue is, the four smaller Buddha statues on the head denote that this could be Avaloktheeshvara, the supreme Buddha of all or Vairocana Buddha.