It used to be the principal object of worship in the lecture hall, but now it is enshrined in the storehouse. It is believed to have been made around the latter half of the 10th century, and the head and body are carved out of a single piece of cedar. In addition, it is known as a masterpiece of Tachikibutsu because it stood on a rock seat using the roots of a natural tree. The rock seat was replaced with the current pedestal when it was moved to the current storehouse in 1980.

Pagodas at Buddhist temples in Japan were originally conceived as reliquaries and monuments dedicated to Shakyamuni, the historical Buddha. Hokiji Temple’s majestic Three-storied Pagoda, standing some 24 meters tall, is a rare example of architecture from Japan’s Asuka period (593–710) and the oldest three-storied pagoda in Japan. It is the only original building to have survived since Hokiji Temple was established. It is said that there used to be inscriptions on the base of the pagoda finial such as the wish Shotoku Taishi left for his son Prince Yamashiro in which he asked for the Okamoto Palace to be converted into a Buddhist temple.

The pagoda was modeled after the Five-storied Pagoda at Horyuji Temple, which Hokiji Temple belongs to. In contrast to the layout at Horyuji, however, the pagoda at Hokiji is located on the east and faces the Hondo, or Main Hall, on the west.