In December 1640, Tsar Mikhail Fyodorovich arrived in the Vyazniki settlement to venerate the recently discovered miraculous icon of the Kazan Mother of God. At this time, the elder Ivan Mukhin approached the tsar with a request to allow the construction of a monastery in the settlement. The sovereign quickly made a decision and commanded the establishment of the monastery at the foot of Mount Venets, on the banks of the river Vyderka, near the 'poor houses.' The monastery was founded in 1641.

In 1643, a wooden church was built in honor of the Annunciation of the Most Holy Theotokos, with chapels dedicated to the venerable Michael Malein and Alexius, the man of God, as well as wooden abbot's and brother's cells. The land on which the monastery was erected previously belonged to the 'Yaropolch poor house.' In 1649, at the request of the monks, the tsar granted the monastery lands, including Lake Yukhro and the source of Yukhorets, rich in fish. In 1650, the sovereign added gardens along the river Vyderka. The royal family and its entourage became benefactors of the monastery, annually transferring lands to it. In 1683, a stone two-story church was built in honor of the Annunciation of the Most Holy Theotokos above and the Three Hierarchs below, replacing the wooden churches. At that time, a stone brotherly building was also erected.

The monastery was not closed during the secularization reform of 1764, when many small monasteries were liquidated. However, having lost state support, it became a non-staff monastery. The remaining lands continued to support a small brotherhood.

In 1794, a church in honor of All Saints was consecrated above the Holy Gates, which had been laid two years earlier. Around the same time, a stone wall with four towers and southern gates surrounded the monastery. In 1912, the stone cells were rebuilt and expanded. The monastery had stone barns, a cellar, a stable, a cattle yard, and a bathhouse. A school operated there.

In 1916, the Annunciation Monastery was transformed into a women's monastery by decree of the Holy Synod. The abbess became Igumenia Serafima from the Serapion-Alexeyev community located near Vyazniki.

The monastery was closed in the 1920s, and the nuns went to the Serapion Desert, where they were later arrested. Igumenia Serafima was exiled to a camp.

In the 1930s, a technical school building was constructed on the territory of the former monastery, while the monastery fence with the southern gates was dismantled, and the cell buildings were repurposed for residential housing in Vyazniki. Both churches became part of a museum. Thanks to the museum and the status of an architectural monument, the church has remained virtually unchanged.

In the 1990s, the Annunciation Cathedral was returned to the Russian Orthodox Church and became a parish church. On July 21, 1999, the revival of the monastery began.