The name Mahamuni is a designation sometimes given to the historical Buddha, especially in Myanmar (fig.). Hence, certain Buddha images may also be named after this title, such as this one in Mandalay.

According to ancient tradition, this image is one of only five alleged likenesses of the Buddha made during his lifetime. Ancient inscriptions and documents state that the image was cast in Dhanyawady around 544 BC, at the request of King Sanda Thuriya, at the time when the Buddha visited the Arakan. A Rakhine legend relates that after the Buddha breathed upon the image, it was turned into the exact likeness of Sakyamuni.

The Mahamuni Buddha Image is deified in the Mahamuni Buddha Temple, and is highly venerated by the Burmese, who come here to pray and to apply gold leaf to the image, though only male devotees are allowed to access the inner shrine.