Manjushree is depicted as a male bodhisattva wielding a flaming sword in his right hand, representing the realization of transcendent wisdom which cuts down ignorance and duality. By his left hand is a lotus flower in full bloom, believed to hold the Prajnaparamita Sutra (Great Wisdom Sutra) and contains the essence of the great Wisdom of Lord Buddha.

According to the Swaymbhu Purana, the Kathmandu Valley was once a lake. It is believed that Manjushree came on a pilgrimage from his earthly abode. He saw a lotus flower in the center of the lake which emitted brilliant radiance. He cut a gorge at Chovar with his flaming sword to allow the lake to drain. The place where the lotus flower settled became the great Swayambhunath Stupa and the valley thus became habitable.