The history of the Russian Orthodox New Valamo Monastery in Finland is linked to the tragic events of 1939, when around two hundred Orthodox monks were forced to leave their previous monastery due to the advance of the Soviet army. The brethren of the Valaam Monastery immediately began searching for a new location to establish a monastery. A suitable place was quickly found, and on July 24, 1940, the old estate of 'Papinniemi' was acquired, where the monks moved along with church items.

Initially, the monks did not have funds to build a full-fledged church, so they converted an old barn into a church. Soon, the number of brethren increased with the arrival of residents from the Pechenga Monastery, some of whom, including the abbot, were arrested by the Soviet authorities and executed. Later, monks from the Konevets Monastery also moved here. Thus, the number of brethren at the New Valamo Monastery grew rapidly, but it was not until 1977 that the monastery was able to build a new church. The design and construction were carried out by the famous Russian architect Ivan Nikolayevich Kudryavtsev, who had lived in Finland since the late 1930s and was involved in the construction of churches.

In 1984, in addition to the built Transfiguration Church, a cultural center was established at the monastery, which housed a large library and hosted various events. The monks continued to develop, and in 1989, a building for a folk school was constructed. Thus, they began to engage not only in worship but also in educational and scientific activities. Interest in the New Valamo Monastery remains high, with at least 15,000 visitors each year. Currently, ethnic Finns serve in the monastery, carefully preserving the memory of its complex history and ensuring its future.