The women's monastery on the site of the Annunciation Monastery in Astrakhan was founded over three centuries ago. Before that, there was the ancient Ascension Men's Monastery, the first church building outside the Astrakhan Kremlin and the White City. The monastery was poor, with its buildings mainly made of wood. A stone church was attempted to be built from the early 17th century, but it was only consecrated in 1699, more than half a century after the first stone was laid.

The Ascension Monastery was abolished in 1706, and a women's monastery was established in its place, renaming it the Annunciation Monastery. According to preserved testimonies, the nuns previously lived in the Astrakhan Women's Monastery, mentioned in 1614 and 1619. It is likely that the sisters of this church, along with the nuns of the Friday Monastery, moved to the abolished Ascension Monastery. This explains the appearance of the chapel in honor of the Martyr Paraskeva Friday in the cathedral monastery's Annunciation Church.

From 1848 to 1851, several monastery buildings and part of the collapsed northern wall were repaired. The old walls were repaired several times, but they only acquired their final appearance by the beginning of the next century. At the same time, it was decided to completely reconstruct the dilapidated John the Theologian Church in Astrakhan, without preserving its original interior. In October 1865, the renovated church was consecrated.

In 1894, a fire occurred in the Annunciation Monastery, destroying two wooden buildings, a carriage house, a stable, the church parish school building, a dining room for the nuns, a stone kitchen with storerooms and firewood barns, as well as the stone wing of the abbess.

In the following years, the destroyed and damaged buildings were restored. In 1896, a new single-story house was built for the abbess. That same year, the city society donated a plot of land to the monastery, where a stone church parish school was built two years later. Over the next ten years, the remaining burned buildings were restored.

In 1900 and 1901, the chapel of St. Nicholas, which was in a state of disrepair, was rebuilt in the southeast corner of the monastery. In 1900, it was dismantled, and a year later, the new building was consecrated.

In 1907, a new bell tower was built in the ancient Russian style over the holy gates, the main entrance to the monastery. It was topped with a dome featuring a gilded apple and an eight-pointed cross. Inside the church, gilded carved iconostases adorned both the central and side chapels. They were created in the early 18th century and were updated several times, the last time in 1908 and 1909, when the old icons were replaced with new ones. At that time, the church's painting was also updated.

With the advent of Soviet power, the monastery was abolished. Its premises were used as a hospital, military unit, and orphanage. When the building housed orphanage No. 6 and an institution for children with moral defects, the nuns were evicted, although the churches remained at their disposal.

In 1930, the churches and bell tower on the monastery grounds were completely destroyed. Some wooden cells were used by private individuals. In 1949, most of the monastery was transferred to the Astrakhan Regional Military Commissariat. In the early 1990s, part of the northern wall collapsed, and a third of the wall was restored. Restoration work on the monastery began in 2008. The walls and towers were first put in order, and the chapel of St. Nicholas was repaired and opened for parishioners. In 2014, work was carried out to preserve the fence, clean the monument from old paint, mold, and dirt, treat it with special compounds, restore damaged surfaces of the brickwork, and paint the monument.