Panavally Sri Bhootanatha Kalayakshi temple is located at Panavally near Cherthala in Alappuzha district, Kerala. The temple is of great importance as the murti worshipped in the shrine was consecrated by Sri Narayana Guru. The temple belonged to a family (kudumba kshetram).
The initial murti worshipped in the temple was of Bhadra Devi. Sri Narayana Guru consecrated Sri Bhootha Natha Kalayakshi form of Shiva here.
The consecration was done on January 7, 1909 CE (Kollavarsham 1084 Dhanu Masam 24).
The temple observed Shivratri, Mondays and Pradosham associated with Shiva.