Basukinath is known for its Shiva Temple. It is believed that after offering prayers and Ganga Jal at Baidyanath Dham Temple, pilgrims undertake a holy trek to Basukinath Dham, around 45 km away, to offer prayers at the Shiva temple here. The pilgrimage to Baidyanath Dham is considered complete only after offering prayers at Basukinath Dham, which is also dedicated to Lord Shiva.

This temple is one of the oldest temples in the region and is located near the village of Jarmundi. The present structure is estimated to be around 150 years old and is said to have been built by Basaki Tatme, a tribal. Temple is famous for the Shravani Mela between July and August. In the months of July-August, a large number of people from many states of India visits here and offer holy water of Ganga to Lord Shiva. Which is also known as Kanwariya Mela or Kanwar Yatra.

Shravani Mela, also known as Kanwariya Mela, lasts for about one and a half months in the month of July- August. Shiva devotees first reach Sultanganj (Uttarvahini Ganga) in the Bhagalpur district of Bihar, which is about 135 km from Basukinath, and take the Ganges water and walk towards Baba Dham. The devotees going to Basukinath first visit Baidyanath Jyotirlinga in Deoghar. Those who reach Baidyanath Dham directly without stopping are called Dak Bam and those who reach in several days by stopping at many places are called Bol Bam.