The 13-metre-long log was unearthed from the bottom of a pond in Pursat province this month, The Cambodia Daily newspaper said.
The piece of wood has since been credited with healing powers and the ability to bring financial good fortune.
More than 3 000 villagers were estimated to have journeyed to the site since July 15, with some rubbing talcum powder on the wood in hope of seeing winning lottery numbers, the report said.
“I try to tell people that it is not magic, but they don’t believe me. People just believe in it. I cannot stop them,” the newspaper quoted Pouk Savuth, director of the provincial department of cults and religions, as saying.
In February, a 19th century ship’s anchor in Phnom Penh also proved a popular draw for local pilgrims after it was said to have healing properties.