Wat Chet Yod, which was previously known as Wat Botharam Maha Vihara, is located outside the old city on the north-west bank of the Mae Khan river. The temple was built by King Tilokarat (CE 1442-1487), the 9th King of Lanna for the monk Phra Uthamapanya Mahathera, who was Abbot of the Temple during the Rains Retreat in 1455.

The original name was given because the Temple contained both a Bodhi Tree and a Great Vihara, but it came to be known as Chet Yod, as it has seven towers on the main structure.

A Bodhi tree was also planted at the time to commemorate the Awakening of the Buddha, there are also six other buildings set up in memory of the first seven weeks after the Buddha's Awakening.

The 8th Buddhist Council was held in this Temple in 1477, in which the Tipitaka texts were revised and confirmed. The proceedings were presided over by Phra Thamthin of Wat Patan, representing the Sangha, and the King who represented the lay people.

After the King's death in 1487, his nephew Phya Yod Chiangrai had him cremated and his ashes were interred in a large Chedi here.

The Ubosot was built during the reign of Phya Muang Kæo (1495-1525). Later the buildings were again renovated by King Kawila when he restored the City after the occupation by the Burmese. It has also been renovated a number of times in recent years.