The college crest is one of the identities of Maliyadeva College. It is designed with some specific symbols which impute meanings themselves.

The shield shape of the college crest is used to emphasize the power and the courage of the school. Then on a symmetrically twined ribbon of maroon color the name of the college is encarved. The tusker lies in the middle represents "Athugalpura" or "Kurunegala", the city where Maliyadeva College is located. And the three lotus flowers symbolizes the "Triple Gem" which blayons that Maliyadeva College is one of the leading Buddhist schools in Sri Lanka. Besides the seven petals in each flower boasts for "Sath koralaya", which is this area called during the monarchical era. On the top of the shield there is a scipt "Vidya Bhushanam Purusha Bhushanam" written in "Sanskrit" caged. And that is the motto of Maliyadeva College which means 'Knowledge (or Education) is the jewel of the man'. The motto emphasizes that how much the college concerns about the education of her students. And it further gives all the students the advice that they must learn well to be shined in the society.