Muktinath is revered by both Hindu and Buddhist communities, worldwide. It is considered one of the largest Vaishnava Dham in the world, attracting followers of various sects like Ramanuja,
Shree Vaishnava, and Gaudapada Vaishnava. For Hindus, it holds special significance as the place where Guruji, founder of the Swaminarayan sect, attained enlightenment.

In Buddhism, Muktinath is revered as the temple of Avalokiteshwar Buddha. In Tibetan and Tantric Buddhism, especially in the Nyingmapa and Bajrayana sects, Muktinath is among the twenty-five sites for tantric enlightenment.

The 108 Dhara at Muktinath Temple is particularly important, as pilgrims believe that taking a holy bath under each of the 108 water spouts cleanses them of sins and ensures salvation. This number holds special importance in Hinduism and Buddhism, symbolizing various cosmic elements and spiritual significance. People from around the world visit Muktinath to seek spiritual purification and blessings, making it a revered destination for both Hindu and Buddhist communities globally.