The monastery in honor of the Assumption of the Blessed Virgin Mary, located in Oryol, is an Orthodox male monastery of the Oryol Diocese of the Russian Orthodox Church.

From the 1660s to the 1680s, the territory of the Oryol fortress housed the Epiphany Male Monastery. Until 1673, the monastery had no land, no peasants, and no state support, and the monks lived on alms. In 1674, Hieromonk Euphemiy began to restore the monastery after a fire that occurred in July 1673. However, in 1680, the monastery burned down again, with only the Epiphany Cathedral surviving to this day. Due to the danger of new fires and the cramped conditions in the city center, it was decided to move the monastery to a safer location. A site on the high bank of the Oka River was chosen, which had previously been considered for relocating the Oryol Kremlin.

In 1684, a wooden church in honor of the Assumption of the Blessed Virgin Mary was built at the new site, with an altar dedicated to the apostles Peter and Paul, and the monastery was named Holy Assumption. From 1686, Euphemiy is mentioned in documents as the abbot.

In 1688, the construction of a stone Assumption Church began with the blessing of Archbishop Nikita. On the day of the church's foundation, an icon, revered as miraculous, was brought from the former Epiphany Monastery, which became the shrine of the new monastery. On April 11 of the same year, the church was consecrated. Next to the refectory, a bell tower was built, which housed eight bells.

By the end of the 19th century, the monastery represented an extensive complex with administrative, residential, and economic buildings and five churches. Notable figures were buried in the monastery cemetery, including Lieutenant General Baron F. K. Korff and writer Count G. I. Chernyshev.

After 1918, the buildings of the former archbishop's residence were used for various institutions, suffering destruction. From the 1950s to 1980, a juvenile colony was located here. By 1980, most of the churches were destroyed. In the same year, the 17th-century Assumption Church was demolished for the passage of the Olympic flame.

Today, the monastery's buildings are lost, with only the Trinity Church-tomb remaining. In 1992, it was restored and consecrated. In 1990, the construction of a new Assumption Church began. In 1992, the territory of the former monastery was transferred to the Oryol-Bryansk Diocese, and monastic life resumed in 1996.

The monastery was reopened in 1998, with Hieromonk Korniliy as the abbot. In 2002, a new church of the Assumption of the Blessed Virgin Mary was built and consecrated. In 2004, the construction of a chapel in honor of Alexander Nevsky was completed, consecrated in 2006. Beneath the chapel is an artesian well, the water from which is consecrated and offered to parishioners. In 2008, the construction of a new five-domed cathedral was completed.