The monastery was founded in the late 15th century by a monk from the Voskresensky Cherepovets Monastery named Sevastyan. He built the first chapel with his own hands. Over time, people inspired by the ascetic life of Saint Sevastyan, who came to be known as Sokhotsky, began to settle nearby. Thus, a community arose, which became the foundation for the creation of the monastery. Since 1622, the monastery was affiliated with the Cherepovets Voskresensky Monastery. In 1764, the Sokhotsky Monastery was closed. At the time of its dissolution, only three souls were attached to it, as due to its remoteness in dense forests and swamps, the monastery had always remained very poor. After its closure and until the mid-19th century, a chapel stood on this site. In 1889, the monastery was revived as the Sevastyanov Sokhotsky Spaso-Preobrazhensky Convent. In 1910, a stone church was built, which was destroyed in 1930. At the time of its closure and destruction, there were 130 nuns living in the monastery. During the Soviet era, the site of the monastery was home to a logging village called Sokhot, which has now disappeared.