Ambalakadavu Bhagavathi temple is located at Karapuzha in Kottayam district, Kerala. The deity worshipped in the temple is believed to be one of the Saptamatrikas. The deity faces west. The Upa Devatas worshipped in the temple are Ganapathy, Shiva, Nagam and Vishnu Bhagavan.
The 8-day annual festival in the temple is held in such a manner it ends on the Vishu day with arattu.
The annual pongala festival is held in Makaram month.
Nira Puthari is held on Thiruvonam day in Chinga Masam.
The temple originally belonged to Mazhuvanchery Illam. When this Illam became extinct the administration of the temple was passed on to Horaykkattu, Periyamanam, Meykaddu and Madom. These illams got the urazhma sthanam.
Currently, the temple is maintained by NSS Karayogam.
On Karthuvavu day in Karkidakam month special Guruthi is held at the northern nada in the temple. This is done as a pariharam for killing a yuvaraja of Thekkumkoor who had given away the sovereign right of Thekkumkoor kingdom to Thiruvithamcore (Travancore kingdom). The crown prince was killed at Thekkumkoor Illikkal.