The name of the village derived from the river Pancha Gangavali. It is believed that the Gangolli is the corrupted form of Gangavali. It is a place where five major rivers of Kundapura taluk confluence and join the Arabian Sea.
The village name was originally spelled as Ganguli. But in recent times it has been more commonly spelt as Gangolli. However, the postal seal still contains the old version.
Gangolli had been a famous fort from the days of the Keladi rulers (sixteenth century). It was a major fortification under Tipu Sultan and he set up a ship building yard here. The first colonial power to capture this fort were the Portuguese. It is believed that they had introduced coconut cultivation in this area. They also brought Catholic families from Goa for the purpose.
During the British rule Gangolli developed as a major trading and export centre. It has business connections with Bombay, Kerala, Gujarat, Middle East, Lakshadweep and Tanzania. Rice, jaggery and coconut were the major exports.
During the post-independence days the place continued to be a trading centre. But the trading activities here suffered due to the construction of National Highway 17 and introduction of modern transport system against the traditional shipment.
Later, in the 1980s it developed as a major fishing centre with the introduction of mechanised fishing. Today it is one of the famous fishing centres of Karnataka. Recently the government of Karnataka started developing the port that is locally called "Bunder".
The main languages used here are Kundpur Kannada, Urdu,Zamayati, Navayath and Konkani. The historic Sri Venkataramana temple popularly known as Malyara Mutt is one of the oldest places of worship in the region. It was built during the Vijayanagar time.
Gangolli is a fishing village with a harbor situated near Kundapura in Udupi District of Karnataka. There are several dry fish huts on the river and sea side. Here one can enjoy the picturesque view of Panchagangavali River merging into the sea, the long sea shore and coconut palms of Kundapura. Nearby attractions include a lighthouse and Sri Mahankali Temple, Kanoji Mutt, Kharvi Keri Gangolli.
Maari Jathra (Maari pooja) is a big celebration in this temple. Celebration will be held on 2–3 days. On these days, different cultural activities are also held. Temple festival takes every year in the month of Jan-Feb. After the Sirsi Jathra , its a second famous jathra in Karnataka.
