On Sharad Purnima/Kojagiri, many divine pairs like Radha Krishna, Shiva Parvati, and Lakshmi Narayan are worshipped along with the moon and are offered flowers and kheer (sweet dish made of rice and milk). Deities in temples are usually dressed in white color signifying the brightness of moon. Many people observe full day fasting on this day.

The Kojagari Purnima concerns the observance of the Kojagara Vrata. People perform this Vrata under the moonlight after fasting for the day. Lakshmi, the Hindu Goddess of Wealth, is significantly worshipped on this day as it is believed to be her birthday. Lord Indra, the God of Rains, along with his elephant Airavata is also worshipped. It is believed that on the night of Sharad Purnima, the raas (form of dance) of Radha Krishna also takes place along with their gopis. To participate in this divine raas, Lord Shiva has taken the form of Gopeshwar mahadev. Vivid descriptions of this night are given in Brahma Purana, Skanda Purana, and the Linga Purana. It is also believed that, on this full moon night, Goddess Lakshmi descends on the earth to watch the actions of human beings