Buddha Kasyapa was the third Buddha of this fortunate aeon. Buddha Kasyap was born in the city of Benaras. Buddha Kasyap was from brahman family. His parents were Brahmadutta and Dhanavati. Buddha Kasyap wife was Sunanda and his son Vijitasena. Buddha Kasyap enjoyed this worldly life for two thousand years. He practiced the penance only for seven days. Buddha Kasyapa attained supreme enlightenment under the Banyan tree. He gave his first sermon to 10 million monks. His body was 20 cubits high. Buddha Kasyapa passed away at Sotavya in Benaras at the age of 20,000 years.

During his buddha activity he also visited Swayambhu Ksetra to pay homage to Swayambhu Mahacaitya. At that time Jyoti Raj Bodhisattva, who was to become Shakyamuni Buddha, was following Buddha Kasyapa along with such chief disciples as Tisya, Uttama and Sotthita. After performing homage to lord Swayambhu he returned to his country. He then went to Gaud (Orissa?). In that city there lived a pious king Prachanda Deva, who used to subdue his enemies and appreciated the deeds of the sage. After obtaining blessings and instructions from Kasyapa Tathagata he went to Kathmandu renouncing his kingdom. King Prachanda Deva paid homage to lord Swayambhu and became a disciple of Acarya Gunakara. Acarya Gunakara ordained and initiated him in the mysteries of Sutras and Tantras. He was then called Santikar Acarya. Acarya Santikar, thinking of the later periods, when people with evil mind might destroy this self-originated divine light, decided to cover it by erecting a stupa over it. Bhikshu Gunakara gave him permission to construct a stupa and conferred on him the title of Vajracharya. After completing the stupa he went to the retreat in Santipur.

Buddha Kashyapa is always depicted as yellow in colour. Buddha Kasyap right hand shows Varada mudra and the left hand is in dhyana mudra. Buddha Kasyap always sits on a lion throne with a lotus.