Legend says Prince Shōtoku founded this temple during the Suiko Period (593-628), making it over 1,400 years old and one of Osaka's most ancient religious sites.

The temple's name literally means 'temple of a bill,' originating from an ancient law that made spreading Buddhism mandatory—monks believed they couldn't achieve spiritual awakening without fulfilling this obligation.

The temple's Benzaiten statue, known locally as 'Shoten-san in Nippombashi,' is believed to grant wishes for improved musical skills when worshippers pray to her with offerings.

Hoanji is one of seven temples in Osaka's Shichi Fuku Jin pilgrimage route—visiting all seven sites to pray to each deity of good fortune is believed to bring complete happiness to pilgrims.