During the Second half of the yester century, the art lovers of Irinjalakuda conducted a Kathakali ticket programme in which the famous Kathakali performers partook. This aroused the craving of Irinjalakudites for a Kathakali Institute to impart training for creating Kathakali artists from the land of Lord Sangamesha. Connoisseurs at this time thought of paying a befitting tribute to Unnayi Warrier, the famous Romantic poet of Malayalam Literature. These double cravings resulted in the evolution of Unnayi Warrier Smaraka Kalanilayam.

Dr. K. N. Pisharody, Adv. Puthur Achutha Menon, Adv. K. K. Thampan, Adv. Nellickappilly Parameswara Menon, Adv. Panampilly Raghava Menon, S. K. Menon, Sri. C. R. Kesavan Vaidyar, Karunakara Pillai and so on rendered their helping hands to evolve the Institute. The institute was inaugurated by Sri. Panampilly Govinda Menon, the then Chief Minister of Travancore state, on 12th July 1955 under registration No. 9/55. Since then it has been functioning as a Kathakali performing and training institute.