The temple was built during the reign of Guang Xu, in the Qing Dynasty. At that time, a Huigen monk from Putuo mountain in Zhejiang province, welcomed five Jade Buddha statues of different sizes from Burma. When he passed Shanghai, he left two jade statues of Sakyamuni, one of which is in a sitting position, and the other reclining. He raised funds and built a monastery to house these two statues in Jiangwan. The monastery was completed in the 8th year of Guangxu od the Qing Dynasty (1882AD) which was named after the jade Buddha, and later it was destroyed in the war. In 1918, it was rebuilt at No.170, Anyuan Road. The architecture of the monastery was in the grand style of the Song Dynasty. The monastery has several halls, including the Heavenly King Hall, the Grand Hall , the Reclining Buddha Hall and the Jade Buddha Hall. There are monks living in the monastery. It is also the home of the Shanghai Buddhism Institute. The incense has never ceased to burn there. Many ancient statues, paintings and a set of Buddhist scripture—Dazangjing, printed in the Qing Dynasty (1870 BC) and more than 7,000 Buddhist scriptures are kept in the monastery, representing a major collection of Buddhist scripture.
There is also a souvenir shop and vegetarian restaurant within the monastery.