The history of the monastery dates back to 1663. It was named after the miraculous Kursk Root Icon of the Mother of God "Znamenie." In 1700 and 1719, all wooden structures of the monastery were destroyed by fires. The surviving monks relocated to the Belgorod Nikolayevsky Monastery. A few years later, restoration began, completed by 1730, after which two stone churches were built on the monastery grounds.

In 1818, the monastery was surrounded by a stone fence on three sides. A wall was not needed on the eastern side, as the courtyard was enclosed by a stone building 22 fathoms long with a dome and an archway.

Within the monastery grounds, inside the fence, there were two churches built in 1730, located next to a large ravine. In addition, there was a monastery cemetery. In the southern part, there was a second ravine, called the "small" one, near which stood a stone building two and a half stories high. This building has survived to this day.

In the 19th century, a lower spiritual school was opened at the monastery for the children of clergy from the Oboyan district and the towns of Sudja, Bogatovo, Koroch, and Stary Oskol.

With the rise of the Bolsheviks, persecution of religion began, leading to the closure of the monastery in 1924. During the Soviet era, the buildings and territory of the monastery were used for various state needs. Currently, there is a boarding school located here.

This monastery is the only one in the Kursk region that has not yet been returned to the diocese. However, negotiations are underway to relocate the school to another building, and it is likely that the monastery will soon welcome the brotherhood again.