As the tzaddik is of central importance in Judaism and especially Breslov, and as the book is about Rabbi Nachman's life and Rabbi Nachman held himself to be the tzaddik hador (tzaddik of the era), Chayey Moharan is an extremely important Jewish book.
The Hasidic followers have the custom of handing pidyon requests for blessing to the Tzaddik, or visiting the Ohel graves of earlier leaders.