Omkareshwara temple was built by Lingarajendra in 1820. It is located very near to the heart of the Madikeri. The temple has both Islamic and Gothic style of architecture. There is a tank in front of the temple and a footpath leading to a small "Mantap".

It is said Lingarajendra killed an honest and pious Brahmin to fulfill his political ambitions. That Brahmin became a "Brahmarakshasa"and started troubling the king. The king got rid of him only when he brought a Shivalinga from Kashi and installed it after building a temple. The Shivalinga was named as "Omkareshwara" and regular rituals were performed.

The bars of the windows of the temple were made of Panchaloha and an alphabet lim has been placed in between the bars.