In the summer of 1866, Bishop Ioannikiy Rudnev from Saratov consecrated the site for the construction of the monastery. With funds from Pokrovsky, a two-story brick cell building measuring 69.4 meters in length was erected. The facade decoration is concentrated on the window openings and niches, adorned with sandriks and pilasters with arched archivolts. In the autumn of the same year, a church in honor of Saint John the Baptist was consecrated in the restored part of the building, and the first abbot was Priest K. P. Orlov. In 1870, a fire damaged the cells and the church, but they were restored in 1876, and the church was re-consecrated by Bishop Tikhon Pokrovsky in honor of the Tikhvin Icon of the Mother of God.

The cathedral in honor of the Ascension of the Lord was laid on May 29, 1880, by Bishop Tikhon Pokrovsky and consecrated on September 19, 1891, by Bishop Avraamy Letnitsky. In 1910, chapels in honor of the Tikhvin Icon of the Mother of God and Great Martyr Panteleimon were consecrated in the cathedral. The five-domed church, executed in the Russian-Byzantine style, stood out for its monumentality and grandeur among the other buildings of the monastery. The project was developed by provincial architect A. M. Salko, and the construction was financed by peasant Rastorgueva, merchant F. I. Diveeva, and other residents of Dubovka.

The church in honor of the Tikhvin Icon of the Mother of God, also designed by Salko, was consecrated in 1897 by Bishop Nikolai Nalimonov. The church, connected to the cell building, is executed in modest forms of Russian style, has a cross-shaped form and three apses. Initially, it was covered with an eight-section vault, but the completion was lost and replaced with a four-pitched roof with a small dome. The main decorative elements include bundles of semi-columns with cubic capitals at the corners and arcature under the cornice of the pediments.

In 1918, the Dubovsk Department of Education opened a children's town called 'Communist.' Around 1920, Abbess Augusta and 14 nuns were shot. In 1922, the monastery was closed, and the sisters became free citizens. From 1923, the monastery buildings housed an agricultural commune 'New Labor,' and from November 1925, a colony for preparing orphans for agriculture and crafts. Later, it housed a boarding school for mentally challenged children and other institutions. By the end of the 1930s, the Ascension Cathedral, cell and utility buildings were destroyed, and in the 1970s, the fence and central gates. The Tikhvin church housed a club and a warehouse.

In 1991, at the initiative of Bishop German Timofeev, part of the monastery buildings was returned to the Church. By the decision of the Holy Synod of the Russian Orthodox Church on August 30, 1991, the monastery was revived. In November of the same year, the first residents appeared in the monastery, and services began. By 2007, the two-story abbot's building and the cell building with the church in honor of the Tikhvin Icon of the Mother of God were renovated, a bell tower, a new cell building, utility services, and a bathhouse were built, and construction of a gate chapel in the name of Saint John the Baptist was underway. In 1992, the crypt of Protopriest I. Pokrovsky was opened, and by 2007, his remains were in the Tikhvin church, where memorial services are held daily. In 1994, the monastery was gifted an icon of the apostles John the Theologian and Venerable Athanasius of Athos, painted on the Holy Mountain of Athos. The icon contains particles of the Lord's Cross, the stone of the Holy Sepulcher, and relics of the prophet Isaiah, Ignatius the Godbearer, saints Basil the Great, Ambrose of Mediolanum, Protasios, and an unknown saint. The monastery has a dependency in Volgograd, a stone church in the name of Saint John the Baptist with a wooden chapel. More than 40 residents live in the monastery, and the abbess is Anna Erofeeva.