Shri Vardhan is one of the oldest towns in Maharashtra. It is a town of Peshwas.Peshwas were the kings in Maharashtra ruling from Pune , after Shivaji's period. The bhats of Shri Vardhan - later popularly known as Peshwas - who witnessed the rise and fall of Marathas after Shivaji's period.

Though the capital of Peshwas was Pune, the actual Peshwai started here in 1713. Balaji Vishwanath (The First Peshwa) took the control of Peshwai which was continued till 1818. The Peshwas ruled Maharashtra for 105 years. Third Peshwa (Balaji Bajirao) built a house here in 1750. The house is huge one. It is under control of Municipal Corporation now a days and is recreated. The statue of Balaji Vishwanath Peshwa was built here in 1988.

Shri Vardhan is also famous for a beautiful beach. The beach here is awesome and the best thing about it that it is calm and very quite. The temple in the town - Shri Laxminarayan Temple - is the main temple of Peshwas. The idol in the temple is quite old and said to be of Hoyasal style. The other temples in the town are temple of Kusumdevi, Somjai, Bhairav and Jivaneshwar. Shri Vardhan is one of the best places to visit in Konkan region and to remember the great Peshwas.