History reveals that Vallarpadom was created during the floods in Periyar in 1341. It was the Portuguese who brought the winds of change to this place. In 1524, the Portuguese missionaries set up a church called the Church of Holy Spirit at Vallarpadom. They also placed a famous painting of the Lady of Ransom in the church. Later, the local people started to attribute many miracles to the painting.
During a flood in the 7th century, the church was destroyed and the painting lost. After a while, it was found by Paliyathu Raman Valyachan, minister to the king of Kochi. He returned it to the people of Vallarpadom. The act was the beginning of a close relationship between the church and the Paliyam family. In 1676, the church was rebuilt and renamed, Church of Our Lady of Ransom.
At the church , there is a kedavilakku gifted by the Paliyam royal family. There was also a teak kodimaram (pole) near the church which was removed.
Local fishermen bring their boats here to be blessed before they take it out to sea for the first time. There are many stories about the miraculous interventions of Vallarpadathamma, (as the local people call the deity). The feast of the church is held in September every year.
This church, part of the diocese of Verapoly, was bestowed with the status of a national pilgrim centre in 1951 and raised that of a basilica in 2003.