The palace and its temple, Puri Saren Agung, share a space in the heart of Ubud. The compound was mostly built after the 1917 earthquake and the local royal family still lives here. You can wander around most of the large compound and explore the many traditional, though not excessively ornate, buildings.
Take time to appreciate the stone carvings, many by noted local artists such as I Gusti Nyoman Lempad. On many nights you can watch a dance performance here.
Just north, Pura Marajan Agung is the private temple for the royal family. The compound across from the palace has a magnificent banyan tree, and is also used as a residence for the family.