The monastery was founded in 2003 on the basis of the rural Holy Trinity parish. The history of this parish is similar to that of many others that faced oppression during the Soviet era. The main church of the monastery, dedicated to the Holy Life-Giving Trinity, was built in 1906 on the site of the wooden Holy Spirit church, but it was closed in 1934 and for a long time used for other purposes: first as a warehouse, then as a ski base. Only in 1989 was the church building returned to the faithful.

In 1998, fulfilling a vow made to the Lord, Father Alexy began the construction of a chapel with a well, although there were no funds for it. Financing appeared during the construction process, often in miraculous ways. That same year, the icon of the Mother of God "All-Holy Queen" was brought to Russia from Mount Athos for the first time, and Father Alexy decided to name the chapel in her honor.

In Yekaterinburg, a copy of the icon of the Mother of God "All-Holy Queen" was painted for the Holy Trinity Church. Upon learning of this, people began to come to Taraskovo, hoping for healing from cancer, as the Athos original was renowned for such healings. It is known that this icon has been granted a special grace by the Most Holy Theotokos for assistance with cancer. However, God's power knows no bounds, and the Holy Spirit acts wherever and however He wishes. The Virgin Mary receives everything she asks of her Son. Therefore, in any illness, need, or sorrow, if we turn to the Mother of God with faith and humility, our prayers will be heard.

In April 2004, the icon of the Mother of God "All-Holy Queen" from Novouralsk Taraskovo was officially recognized as miraculous by His Holiness Patriarch Alexy II of Moscow and All Russia. The church-wide celebration is set for August 31. On December 3, 2003, the chapel became a church over the well, the second temple of the monastery.

By that time, the shrine began to attract those seeking monastic life to the village of Taraskovo. On December 31, 2002, Archbishop Vikentiy of Yekaterinburg and Verkhoturye blessed the creation of a monastic community, and on October 6, 2003, the Holy Synod decided to open a men's monastery here. On November 22, during the feast of the icon of the Mother of God "Quick to Hear," the Holy Trinity Monastery was consecrated by Archbishop Vikentiy.

Today, the monastery is active. Daily services are held in its churches. The number of residents is growing, and the forms of social service are being improved.