A commemorative plaque located to the right of the entrance to the underground part of the chapel states: "The Chapel 'Pillar' was erected in the 18th century at the site where the Venerable Nikita of Pereslavl, a miracle worker, performed his prayerful feat. By the blessing of the abbot, he wore heavy iron chains and a white stone cap, saying: 'If I am sinful in body, I must also suffer in body.' Here he spent many years in fasting, prayer, and broken weeping for his sins. The Lord granted him forgiveness of sins, the gift of healing of bodily and spiritual ailments, and the expulsion of demons. Here, the Venerable Nikita the Pillar received a martyr's death at the hands of robbers on May 24/June 6, 1186." Exact data on the time of the chapel-pillar's appearance over the site of the Venerable Nikita's feat is absent, however, in the inventory of 1701, it is mentioned as "a stone pillar, and on the pillar a tent and a chamber covered with shingles."

In the "Description of the Pereslavl Nikita Monastery," historian A. Svirilin describes the further history of the chapel: "In 1768, a stone gallery was built around the pillar instead of wooden porches, according to a project from 1755, and under the pillar, a stone cell with a window was arranged in the ground. In 1777, a stone chest was erected. In 1796, the pillar was adorned with painted images from the life of the Venerable, which were renewed in 1845. In this form, the pillar exists to this day." During the Soviet era, the chapel was desecrated and abandoned, but it was restored with the opening of the monastery in December 1993.