This town is closely associated with the life of Gautama Buddha, who is believed to have spent greater part of his monastic life i.e. 24 Chaturmases here. Age-old stupas, majestic viharas and several temples near the village of "Sahet-Mahet" establish Buddha's association with Shravasti. It is being said that the Vedic Bharat period king Sravasti(8th king of Ikshwaku dynasty) founded this town. Shravasti was the capital of the Kosala Kingdom during his reign . This prosperous trading center was well known for its religious associations. Sobhanath temple is believed to be the birthplace of the Tirthankara Sambhavanath in Jainism, making Shravasti an important center for Jains. The ruins at Saheth and Maheth on the boundaries of the Gonda and Bahreich districts of Uttar Pradesh are believed to be the site of ancient Shravasti. Maheth was the city-proper while the Jetavana monastery was at Saheth. Of the ancient Shravasti, the city walls are still standing. Within these, the remains of 3 ancient buildings can be visited: Angulimala'sstupa, Anathapindika's stupa, and an old temple dedicated to a Jain Tirthankara. Outside of Shravasti is located the stupa where theTwin Miracle (Pali:Yamaka-pātihāriya) took place. The site of Jetavana monastery is the main pilgrim destination, with meditation andchanting mainly done at the Gandhakuti (Buddha's hut) and the Anandabodhi tree. 

Buddhist monasteries from the following countries have been constructed at Shravasti: Thailand, South Korea, Sri Lanka, Myanmar, Tibet and China.