Champawat was once the capital for Chand dynasty rulers of Kumaon. The temple is dedicated to Lord Shiva, though there is not manuscript to confirm the date when it was built, but it is beleived that the temple was built by the Chand rulers in the 12th century & is an excellent monument with marvelous stone carving works.
There are two more temples in the compound of Baleshwar Mahadev, one dedicated to Ratneshwar and other to Champawati Durga.