In 1951, the Dharmarajika Buddhist Monastery is established in Dhaka City,  and permanently installed in its present position at Sabujbag, Kamalapur, Dhaka-1214 in 1960. This is the first Buddhist Monastery in Dhaka after the division of India in 1947. Bangladesh Bouddha Kristi Prachar Sangha took initiative in 1951 to establish a new Buddhist Centre in Dhaka, the then Provincial Capital of East Pakistan to unite and project the Religious and Socio-cultural activities of the Buddhists of the newly emerged country Pakistan.

It is to be mentioned that greater Dhaka is a place where Buddhism flourished in the past days. Dhamrai, Savar, Narsingdhi and Vikrampur were the Buddhist Centres which is at present coming to light through excavation. Recently ancient Buddhist Monasteries discovered at Savar, Wari-Bateswar and Vikrampur. In order to keep alive the past glory of Buddhism of this area the name of Dhaka Buddhist Monastery has been re-named as Dharmarajika Buddhist Monastery. History records that Great King Ashoka established 84 thousand Votive Stupas throughout ancient India which were known as Dharmarajika. Such Votive Stupa was established by King Ashoka at present Dhamrai, Savar, Dhaka. Needless to mention here that Dhamrai originated from Dharmarajika. In order to commemorate this historical name of event the Dhaka Buddhist Monastery has been re-named as Dharmarajika Buddhist Monastery. Under the leadership of Late Mahasanghanayaka Visuddhananda Mahathero, the then President of Bangladesh Bouddha Kristi Prachar Sangha ably assisted by Late Banghish Thero, B. A. and present President of the BBKPS Sanghanayaka Suddhananda Mahathero and with the help and assistance of the Members of Bangladesh Bouddha Kristi Prachar Sangha established this historical Monastery. The Monastery was set up to act as a focal point for Buddhist teachings and meditation and to provide much needed support to the community. Since opening our doors, our center has set up many social welfare programs and has been involved in coming to the assistance of the community whenever a disaster or any other problems arises.

BBKPS has brought back a portion of Ash Relics of Atisha Dipankar the great scholar of Bangladesh of 10th century from China in 1978. This relics has been ceremonially installed at Dharmarajika Buddhist Monastery in 1978. Mention may be made here that Govt of Bangladesh rendered all possible assistance at that time. With the arrival of Atisha's ash relics the name of great Buddhist Scholar came to light after many many years. Bangladesh Bouddha Kristi Prachar Sangha played a historical role in reviving the Buddhist heritage of Bangladesh.

Atish Dipankar was born in 980 A.D at a village Bajrajogini, Bikarampur, Munshigonj, Dhaka. His father's name was King Kallyanasree and mother's name was Queen Prabhabati. Kalyanasree was the local ruler appointed by the Pala Kings. He was pious and qualified. He sent his son Chandragarbha (Atisha Dipankar's early name) to Pandit Jetari (JETARI) who was the resident of Barendra (present Rajshahi). At the age of 25 he defeated a great Pandit on religious debate. Then the name and fame of Atisha Dipankar spread all over in India. Atisha went to Rahulagupta another great Buddhist monk of Krishagiri of South India. He accepted him and entered to the life of Samanera (Novice) under his guidance. He was renamed as GUHAJYA GYANABAJRA. For further knowledge he went to Odhantapuri Mahavihara (University). There he took ordination from Silarakkhit Thero the Vice Chancellor of Odhantapuri Mahabihara and became monk. Then he took the name Dipankar Sreegyan. Afterwords he came to another scholer Dharmarakshit of Magadha for further knowledge. After receiving knowledge from him he went to Suvarnabhumi (present Thailand and Indonesia) to aquire knowledge on Buddhist Philoshophy. He gathered knowledge from Dharmarakkit of Suvarnabhumi but some scholars say that his name was Dharmapala. After completing his study he returned back to Bangladesh via Srilanka. After visiting holy places there Atisha Dipankar joined Vikramsila University and subsequently became the Vice Chancellor.

From there he went to Tibet to reform Buddhism in 1038 A.D. From Tibet he did not come back and expired in 1054 A. D. in Tibet. In 1978 his ashes (remains) has been brought to Bangladesh by Bangladesh Bouddha Kristi Prachar Sangha in its Head Quarter Dharmarajika Buddhist Monastery.

Dharmarajika Buddhist Monastery is famous for its newly built 38' Standing Buddha Statue. Ever first of its kind in Bangladesh this Statue has been erected by the guidance of H. H. Sanghanayaka Suddhananda Mahathero and Phra Maha Boonsong Upasamo of Wat Songmettawanaram of Chonburi, Thailand under the patronage of Royal Thai Family. This historic statue was ceremonially opened by Hon'ble Prime Minister of Bangladesh Sheikh Hasina in 2012.

Another attractive Pagoda and Atisha Statue is going to be constructed at Dharmarajika Buddhist Monastery by the patronage of His Majest King of Bhutan and other donors.

Holy Bodhi Tree is planted in this Monastery in 1965 which was brought from Anuradhapur, Srilanka which was a gift of the then Prime Minister Sreemavo Bandernayaka of Srilanka. Bo-tree is a pious tree because under this tree Goutama attained Bodhi (Enlightenment) and became the Buddha. In this campus of the Bodhi Tree statue of 27 past Buddha's are installed with a Samadhi Buddha in the midst.