Wat Phuttai Sawan is located on the south bank of the Chao Phraya River in an area presently called Samphao Lom (the Capsized Junk sub-district), east of Khlong Thakian. Situated opposite the mouth of Khlong Chakrai Yai, also called Khlong Tho, a canal linking the former Lopburi River (present Khlong Mueang or northern moat) with the Chao Phraya River and runs adjacent the former Royal Palace grounds. The temple complex faces east and is bordered on the north by the Chao Phraya River.
The temple was built in 1353 AD (715 CS) by King Ramathibodi I at the royal residence of "Wiang Lek", the site where he first settled before establishing Ayutthaya as the capital city in 1350. The temple was constructed after his elder brother (the ruler of Suphan) defeated the Khmers and brought them back under the control of Ayutthaya in 1352.