The Kalabhairava temple located in Narasimha Vana is the guardian deity of Sringeri consecrated in the eastern direction by Jagadguru Sri Adi Shankaracharya. The 33rd Acharya of the Peetham, Jagadguru Sri Sacchidananda Shivabhinava Nrisimha Bharati Mahaswamiji has composed a Kalabhairava-ashtakam on this deity.

On October 12, 2017, Ashtabandha Kumbhabhisheka of the Kalabhairava took place. Jagadguru Shankaracharya Sri Sri Mahasannidhanam performed a special Puja and the Ashtabandha Kumbhabhisheka to Lord Kalabhairava. Sri Sannidhanam was also present on the occasion.