In 1621, Archbishop Cyprian laid the first wooden church in honor of the Protection of the Holy Virgin in Verkhoturye. It was likely consecrated in the same or the following year. However, the church was poor, as noted by the nuns in a petition to Tsar Mikhail Romanov in 1622: "there are no bells, books, or icons, and there is nothing to buy them with." They asked the tsar for help in establishing the monastery. The state financed the monastery, and the request was granted: the tsar ordered the voivode of Verkhoturye to arrange the monastery.

Nevertheless, more than twenty years later, in 1645, the nuns complained that the church still needed repairs. The voivode did not provide the church with what was necessary. In response to their petition, the tsar ordered a report on the state of the monastery and the materials needed for repairs. The documents were sent to Moscow, and in 1646 the tsar sanctioned the construction of a new church. The work was carried out by Ural peasants as part of their state obligations.

A new, more spacious church was soon built. However, in 1650 or 1651, a fire destroyed it. The nuns turned to Tsar Alexei Mikhailovich for help in building a new church. The tsar agreed, and in 1651 the construction of a new church began.

In 1660, local residents, such as Terenty Safronov, assisted the monastery. The third church served until 1684, when it became too dilapidated. In 1686, the construction of a new church began. In 1690, a bell tower was built next to it.

In 1692, a fire destroyed the monastery. In 1738, another fire destroyed the fifth church. The sixth church was moved from the male Nikolayevsky Monastery in 1739 or 1740. In 1744, the construction of a stone church began, which has survived to this day.

In 1754, Maxim Pokhodyashin began the construction of a new stone church with a bell tower, which became the architectural dominant of the monastery. In 1764, a decree on secularization led to the closure of the monastery, but the nuns continued to live at the churches.

When the monastery actually ceased to exist is unknown. It may have happened in 1782. In the mid-19th century, a community of women aspiring to monastic life was formed again.

The Protection Church, built in 1744, became a parish church after the monastery was closed in 1782 and was closed in 1929. In 1991, the church was returned and consecrated in 1996, and it is still active today.