The festival is celebrated on March/April . The main deity is Lord Krishna.The 'Palpayasam' (a sweet milk porridge) offered to the deity during the temple festival is very famous in Kerala. 

Amabalapuzha Temple Festival, also known as the Chambakulam Moolam water festival is celebrated according to the rememberance of the bringing of this idol of Lord Krishna. The festival is celebrated on the Moolam day of the Mithunam month of the Malayalam era in every year. Human sacrifice was conducted in ancient times. However, cocks have now replaced humans on the sacrificial altar. The annual festival lasts ten days. A folk - art form, Ambalapuzha vela performed on each day except the first is one of the main attractions of the festival. From the seventh day, elephant processions are held in the evening. Another important event, on the ninth day, is the Natakasala Sadhya, celebrated in the memory of the legend of Lord Krishna serving food to the temple drummers.