Rani Pokhari was inherent 1670 AD by King Pratap Malla, a standout amongst the most renowned rulers of the Malla tradition that controlled Nepal for over 600 years. Pratap Malla had the tank built to support his ruler who was troubled with sadness after their child was trampled to death by an elephant. He had water gathered from different heavenly places and stream junctures in Nepal and India like Gosaikunda, Muktinath, Badrinath, Kedarnath and filled the lake to purify it.
A sanctuary devoted to Matrikeshwor Mahadev, a type of the Hindu god Shiva, remains at the focal point of the lake. It is come to from the road by a highway. A huge stone statue of an elephant bearing the pictures of Pratap Malla and his two children Chakravartendra Malla and Mahipatendra Malla is arranged on the tank's southern bank. The lake is revived by water streaming in through an underground channel.
There are four littler sanctuaries arranged at the four corners of the lake: Bhairava sanctuaries in the northwest and upper east, Mahalaxmi Temple in the southeast and Ganesh Temple in the southwest. The sanctuaries on the eastern side now exist in the mixes of Tri Chandra College and a police headquarters which has undermined their social significance.
Rani Pokhari is fenced with iron bars and opened once per year amid Bhai Tika, the fifth and last day of the Tihar, and Chhath celebration. The world's biggest Chhath celebration happens each year in RaniPokhari. Rani is additionally committed to (Nepalese Maithil) Women who goes into the cool water and go to sun god.