It is located about 6 km from bus stand in old Mahabashwar. It was built by Raja Chanda Rao More in 16th century. It is dedicated to Lord Shiva. It is the only Shiva temple in the world with a Linga in the form of Rudraksha. it is believed that religious importance of this temple is more than twelve Jyotirlingas. It also has many belongings of Lord Shiva and it is believed that Shive comes here every night.

Mahabaleshwar Temple is a highly revered Shiva Temple, located in the Satara district of Maharashtra. Its religious significance is more than that of the twelve Jyotirlingas. The shrine dates back to the 16th century and follows the Hemadant style of architecture.

Its ancient architecture is characterized by a pyramidal tower set up on an unadorned exterior, while interiors are flanked with carvings. There are several idols and sculptures of Nandi and Kalabhairava. The simplicity of the temple is complemented by the majestic backdrop of Sahyadri ranges.

The temple has immense religious significance, as it is the only temple in the world with a Linga in the form of Rudraksha. The 6 feet long ‘Swayambhu’ (self-originated) Shiva Linga, known as the Mahalingam, is thousands of years old. The sanctum sanctorum which houses the Linga is over 500 years old, while other parts of the temple were constructed subsequently.

The holy water from Shri Panchganga Temple is believed to have therapeutic properties and is consumed by devotees. Krishnabai Temple is another prominent black stone temple located over a majestic cliff.

Krishnabai Temple is supposed to be source of the Krishna River. The temple was built in 1888 by a ruler of Ratnagiri on a hilltop overlooking the Krishna valley. The temple has a Shiva lingam and a beautiful statue of Goddess Krishna. A small stream of the river flowing from a cow-face (gomukh) falls in a Kund or water tank which is the source of might River Krishna. Stone carved columns and ceilings are the special characteristics of this temple.

The temple also offers enchanting views of the Krishna valley and surrounding countryside. Behind Panch Ganga temple, there is a small and well-marked trail that leads to Krishnabai temple. It is not visited much by tourists and is isolated but it provides a most exquisite view of the river Krishna.