The monastery was founded in the 14th century on the northern outskirts of Suzdal. It was built as a fortress to defend the town from all the enemies - both external and internal. The founder of the monastery was sainted monk Euthimius of Suzdal. Earlier wooden structures of the monastery have not survived and the imposing stone ensemble which stands out in all its beauty on the high steep bank of the Kamenka river now was formed in the 16th -17th centuries.

The monastery's defensive walls with twelve battle towers stretch for almost a kilometer and a half. The main entrance tower (twenty-two meters high) stands out from all the others for its monumentality and bright and elaborate decor. The main cathedral of the monastery - the cathedral of the Transfiguration of the Saviour (the 16th century) - was built in the tradition of white stone architecture of Suzdal, it is monumental and austere. The 16th century frescoes were discovered by restorers on the outer wall of the cathedral. Inside the church the walls are covered with the carpet of murals created by Guri Nikitin and Sila Savin - famous Russian icon painters of the 17th century. The subjects for the murals were taken from the New Testament.

Peculiar in design is the belfry of the monastery. The appearance it has now had been formed for two hundred years. In the 16th century a nine-sided pillar-shaped structure - which was a combination of a bell tower and a church "under the bells" - was constructed. This is one of the early and very rare surviving monuments of this type. The restores could reconstruct an interesting top of this church which was crowned with an elegant cupola covered with silvery aspen shingles. In the 17th century the arcade for the bells was added to the pillar, both parts were joined into a single whole by a wall, decorated with blind arches, tiles, niches and semi-columns. In 1930-es all the bells of the monastery were sent for remelting "for the needs of the state". The museum had to collect the bells anew from all over the region. In 1985 seventeen bells of different size were set on the belfry. Today, every hour the museum bell-ringers perform the concerts of bell-music.

The church of the Assumption is one of the most interesting tent-roofed stone churches of the 16th century. It is adjoined by a refectory chamber whose design is typical of that period: its vaulted ceiling is supported by a single central pillar.

In the 17th century the Abbot's chambers were built. The high wooden roof, wooden gallery and porches of the building create the special atmosphere of warmth and comfort, which distinguishes the living quarters from the other structures of the monastery. The infirmary chambers with the church of St. Nicholas is a rare specimen of the Russian civil architecture. The brothers' cells were inside a long (about one hundred meters) building dating back to the 17th-19th centuries. The whole monastery is a part of the Vladimir-Suzdal museum-reserve and is inscribed on the World Heritage List of UNESCO.