After the Bolsheviks came to power, tens of thousands of Russian emigrants found themselves in Finland, and soon the old Orthodox cemetery became overcrowded. It was then decided to create a new cemetery at the Nikolsky Orthodox Church. In 1931, the Church Council of the parish appealed to the authorities of Helsinki for a plot of land for this project. The delegation was led by the former master of ceremonies of His Imperial Majesty's Court, Baron Rudolf Alexandrovich Shtakelberg. Negotiations lasted several years, and in 1935, the land was successfully obtained.

After resolving the land issue, the initiators began the construction of the church, which was completed in 1938. In 1950, the church was rebuilt by Ivan Kudryavtsev and consecrated anew. Before the consecration of the church, few agreed to bury their loved ones in the new cemetery, and only in 1938 did the first burials take place there. These were mainly Russian soldiers, as evidenced by the inscription on the marble plaque in the altar apse of the church. Later, those who died in the war for Finland's independence from the USSR joined them. Soldiers who fell in the Winter War were buried with special honors, many of whom were Russian emigrants who voluntarily joined the army or were mobilized.

In the 1940s, a new memorial was erected at Nikolsky Cemetery in honor of the fallen soldiers of the Finnish army, built with funds from the parishioners of the Nikolsky community. Among those commemorated by this monument is Vladimir Grigorievich Svetlovsky, a Russian chemistry student and son of the rector of the Orthodox community in Vyborg. Later, his parents were also buried in this cemetery. In the following years, notable figures such as Alexander Nikolayevich Kozlovsky, one of the leaders of the Kronstadt Rebellion, Colonel of the White Army Vladimir Alexandrovich Velichko, the legendary White cavalry commander and figure of the Russian emigration Kuzmin-Karavaev, and many others found their final resting place here.