The temple was built by a Chinese merchant named Liab in late Ayutthaya period, and formerly called Wat Liab after the of the builder. In Thonburi period, the temple was the residence of ecclesiastical dignitaries.
In 1793 during the reign of King Rama I, Chaofa Krommaluang Thepphithak, the King’s grandson, had the temple restored with the King’s support. The temple was made the Royal temple and named Ratchaburana Ratchaworawiharn as same as the name of the temple in Sukhothai period.
In King Rama II’s reign, 162 Buddha images were brought to the temple and the Wiharn (Main Hall) was built for installing 80 Buddha images inside. During World War II in 1945, the temple was seriously damaged and deleted from the official list. Later, Phra Kuna Charawat the Then Abbot and local people helped to rebuild the temple. The present Ubosot (Main Chapel) was build in 1960, the Prang was the old monument restored in 1962.