Like Dakshinamurthy and Dattatreya, Nara Narayana are also incarnations, forming the source of the Guru order and the Guru tradition in Hinduism. The fourth chapter of the eleventh canto and the eighty-seventh chapter of the tenth canto of Bhagavatam furnish the historical role played by Nara Narayana in molding the religious and philosophical life of ancient India.
Both of them are gods incarnate. They are eternal and everlasting. Both are Rishis. They have their abode at Badari Mountain, the well known pilgrim center. Dharma Rishi was their father and Murti, the daughter of Daksha, was their mother. They are always immersed in deep penance. They were the masters of Narada whose disciples were Valmiki and Veda Vyasa.
It is said that after the purpose of Narasimha Avatar was fulfilled, Narasimha split himself into two, the lion becoming Sage Narayana and the human part becoming Nara. Then Nara and Narayana made Badarikashrama as their abode. The sages were reborn as Sri Krishna and Arjuna.
The murtis of Nara Narayana have four arms carrying a japamala.