Sivalayam or the Lord Sri Rajarajeswara temple at Yanam is one of the most important places of worship there. It was built in the 15th century by King Rajamahendravaram of the Chalukya dynasty. The temple is noted for the ornate sculptures that date to this period. The temple is located on the banks of the Atreya Godavari river, also known as the Corangi river. The most important festivals celebrated in this temple are Kalyanotsavam and Rathostavam.
The festival of Kalyanotsavam is celebrated during the month of Magha which comes during the January-February period. Lord Sri Rajarajeswara is adorned as a bridegroom and taken out on a procession through the streets. Rathotsavam is also part of this festival when the Lord is taken out of the temple in all ritualistic splendor on massive chariots that are pulled by devotees.