The chapel was restored by the clergy and parishioners of the Protection Cathedral with the blessing of Metropolitan Lev of Novgorod and Staraya Russa. Repair and restoration work began in 2016, and the consecration took place on May 3, 2017.

Inside the chapel is an icon of St. George the Victorious, painted specifically for this location, as well as granite memorial plaques with the names of Novgorod residents, heroes of the Great Patriotic War.

According to chronicles, Zverin Protection Monastery was founded no later than the 12th century. On its territory, the Protection Cathedral, the churches of the Protection of the Mother of God and Simeon the God-Receiver, as well as the chapel of St. George the Victorious, have been preserved. It is believed that the chapel was built in the first half of the 19th century, but exact documents regarding the time of its construction have not yet been found.