Most Venerable Udugama Sri Buddharakkitha Thera was born on March 17, 1930 at Udugama in Dambadeniya in the Kurunegala District. His name in layman life was Jayasundara Mudiyanselage Amarasinghe. His parents were J. M. Punchi Banda and J. M. Muthumenike. Amarasinghe received his primary education at Udugama Mixed School up to Grade eight.

On a request of Ven. Nethipola Thera, Amarasinghe entered the Sasana. Udugama Rathnapala Thera conducted his ordination.

In July 1945, he was ordained as Udugama Sri Buddharakkitha Thera under Udugama Rathnapala Thera. Udugama Sri Buddharakkitha Thera attained Upasampada under the historic Wahalabage procedure in 1951 at Asgiriya Raja Maha Viharaya. He became a member of the working committee of the Temple in 1966 and became the chief custodian of Sri Dalada Maligawa in 1969.

In 1992, Buddharakkitha Thera was elevated as the Head of Rangiri Dambulla Temple and in 1998, he was elected as Anunayake of the Asgiri Chapter. Udugama Buddharakkitha Thera became Mahanayake of the Asgiriya Chapter on December 13, 1999.