In 1836, bhikku Prince Mongkut, i.e. the later King  Rama IV, who in 1824 had ordained at the age of 20, arrived at Wat Bowonniwet Wihaan Rachaworawihaan and became its first abbot. Thus, this temple became the centre of the Thammayut Nikaya sect, which was founded by Prince Mongkut.

In his reign of a large chedi covered in gold-coloured tiles was erected and today his statue stands in a detached niche in front of this pagoda. The temple is also home to the Maha Makut Buddhist University, which was founded in 1893 by King Rama V, as an educational institute for the Buddhist clergy and in memory of King Mongkut.