The monastery was founded in the late 16th century by schemamonk Macarius in the Gorbatov district of the Nizhny Novgorod diocese, not far from the village of Vorsma, 58 versts from Nizhny Novgorod. It was located on an island in the center of Lake Vorsma, which gave it the name Island-Ezer. To the east, the Doskinskaya River washes the monastery, to the west, the Kishma River, while the southern and northern sides are surrounded by Lake Vorsma with many islets covered with shrubs, reeds, and grass. From 1588 to 1743, the princes of Cherkassky were engaged in the construction and decoration of the monastery, first erecting wooden, and then stone churches, monastic cells, and a fence. In 1682, Metropolitan Paul permitted the construction of a warm church in honor of St. Michael Malein, and on August 31, 1688, stone churches were built instead of wooden ones. In the 17th century, the monastery was completely rebuilt in stone with funds from the Cherkassky princes. It housed relics such as the cross with a particle of the Lord's Robe and the Kazan icon of the Mother of God, gifted by Prince Boris Cherkassky.

From 1743, the monastery was supported by several generations of the Sheremetyev family, who provided it with lands, bread, money, timber, and other materials for the church treasury.

In the 1930s, the monastery was abolished, and in the 1950s, its fence was completely dismantled, and two stone churches, the Trinity and Kazan churches, were destroyed. Only the semi-ruined brotherhood building, fragments of the fence, and the gate church of St. Michael Malein remained. In 1995, the remains of the monastery buildings and the island were placed under state protection.

In 2007, plans were announced for the revival of the monastery. On April 16, 2007, the first service was held at the site of the monastery. One of the towers of the fence was restored and housed a chapel. On July 3, 2008, Archbishop Georgy of Nizhny Novgorod and Arzamas entrusted nun Joseph Egasova with the care of the revival of the monastery and blessed her to accept sisters wishing to join the women's community at the monastery. A house nearby was rented for the sisters' accommodation. Work was underway to develop project documentation. On December 30, 2008, Archbishop Georgy consecrated the first sister cells in a small two-story wooden building next to the monastery complex. On May 31, 2009, Archbishop Georgy blessed the holding of services with akathists three times a week. On July 23, on the day of the Transfer of the Lord's Robe to Moscow, the first liturgy was planned to be held in the restoring church.

On June 7, 2009, on the Day of the Holy Trinity, the first service was held at the site of the destroyed Trinity church, and the day before, a cross was installed at the altar site. On December 31, 2009, the restored church in honor of St. Michael Malein was consecrated. In January 2010, specialists from the workshop 'Ark' completed work on the icons for the iconostasis of the gate church in the name of St. Michael Malein. The iconostasis was made in the Russian style of the 15th century, and the icons were adorned with golden backgrounds and carved frames. The installation of the iconostasis was planned for spring. It was also planned to begin painting the church. Volunteers from the Moscow association 'Restavros' were engaged in preparatory work, transporting building materials to the island and clearing the territory. The administration of the Pavlovsky district organized the repair of the bridge over the lake. By early 2010, two residents lived in the monastery, nun Joseph and her assistant Galina. In spring 2010, the construction of a bell tower over the church in honor of St. Michael Malein began, which would become the highest point of the monastery. At the same time, the restoration of the Trinity Cathedral began. On June 28, Archbishop Georgy held a service and the rite of laying the first stone in the foundation of the cathedral. The consecration of the cross on the dome of the Trinity Cathedral took place on November 3, 2010. During a visit on June 30, 2011, Archbishop Georgy consecrated the cross at the entrance to the monastery. A small chapel with an icon of the Mother of God 'Economissa' was consecrated on the shore of the lake. On August 12, Archbishop Georgy held a meeting where they determined the completion dates for the construction of the Trinity Cathedral and approved the work schedule for the reconstruction of the monastic cells, as well as discussed the issue of energy supply to the monastery. The restoration of the Nikolsky church in Vorsma was also considered. On September 18, 2011, the first Divine Liturgy was held in the restored Trinity Cathedral, after which the remains of the founder of the monastery, schemamonk Macarius, were reburied. Archbishop Georgy was assisted by Bishop Kirill of Stavropol and Nevinnomyssk. On June 4, 2012, Bishop Varvara Baranov of Vyksa and Pavlovsky performed the rite of laying the church in honor of the Kazan icon of the Mother of God.