Shi Yongxin, the abbot of the world-renowned Shaolin Temple, is being investigated for offences including embezzlement, "improper relationships with multiple women" and "having illegitimate children", the temple said.
In a statement on Sunday, Shaolin temple said multiple departments were jointly investigating Mr Shi and more information would be made public in due course.
The 1,500-year-old Shaolin Temple, located in a mountain range in central China's Henan province, attracts thousands of disciples every year - some from across the world.
Mr Shi, who has been Shaolin Temple's abbot since 1999, has earned the nickname "CEO monk" for transforming the institution into a global brand.
Under his leadership, the temple started opening schools outside China and formed a travelling troupe of monks who performed Shaolin kung fu shows - the temple's signature style of martial arts.
