Located opposite Wat Phra Signh in the old walled city of Chiang Mai, the founding date is unknown but generally believed to date back to the end of the 16th century.
The Wat grounds include an ubosot, viharn and two chedis. All but one chedi were built in a straight line.
A wooden structure built on a stone base, the viharn was built in 1823 using the classic Lanna style. It has a 3 tiered roof with Chofah decorating the roof ends. There are panels on the entrance plus pillars, all showing intricately decorated flower motif carvings in the Lanna style.
While most Wats have the principle Buddha image in the viharn, Wat Prasats Buddha image is in a chedi. The seated Buddha image can be seen through an ornately decorated entrance to a tunnel leading from the viharn to the chedi. Also, on both sides of the tunnels entrance are several seated Buddha images. The bronze Buddha image dates back to 1590.
Located behind the viharn is the ubosot which is a reconstruction of the original bot. Behind the bot is the original large white chedi with a golden spire. Also on the grounds is a bell tower and large spirit house guarded by 2 Naga serpents.
The easiest way to this Wat is to go to Wat Phra Singh – Wat Prasat is directly across from it.