Gurukula College was started in the 1st of July 1948 with 14 students consisted of both laymen and clergy. As a consequence of an internal conflict Dharmaloka college hither to situated at Vidyalankara Pirivena, Peliyagoda was shifted to Waragoda. Thus Professor Yakkaduwe Sri Pagnarama thero pioneered in the school. Through started as an English medium school. The school from its earliest periods gave priority to cultural and national values and sinhala literature.
'Pagna Udapadhi' means the dawning of wisdom. The lighted oil lamp symbolizes the attaining of perfection. Nobleness is reflected through yellow colour while the lotus flower and white colour signify purify, loyalty and greatness. The colour blue represents vigour and delicacy.