Wat Li is located at Ban Lai Ing, near the 3rd Municipality School, Wiang Sub-district. It is an ancient and significant temple of Phayao constructed in 1495 to be presented to Phrachao Yot Chiang Rai, the king of Chiang Mai Town. Li is its original name. It is an ancient northern Thai dialect, meaning Kat or Talat or market. Therefore, it means a temple in the area of the market community. Within the compound of the temple, there are important ancient remains; namely, Phrathat Wat Li, and many artefacts of the Phayao Kingdom, especially the sandstone Buddha images. Moreover, there is a museum collecting various artefacts.