Among Acquaformosa's most important religious events is the feast of San Giovanni Battista (Saint John the Baptist), on 29 August: the events are usually scheduled for the day before the beheading, that is 28 August. The village preserves the Byzantine language and rite, under the ecclesiastical jurisdiction of the eparchy of Lungro.
The feast of the Madonna del Monte takes place on the first and last Sunday of July, with a pilgrimage of the parish of Acquaformosa, Lungro, Firmo and other surrounding Albanian villages, with songs, dances and women dressed in traditional Albanian costumes. At the end of August the Festival delle migrazioni is held every year. The municipality also holds the Santuario di Santa Maria del Monte and the Abbazia di Santa Maria di Acquaformosa.
