According to legends, in the Kamenka River, over which the monastery now stands, in 990 Prince Vladimir the Red Sun baptized the inhabitants of Suzdal. Until the 17th century, the monastery was wooden. In 1692, the construction of the cathedral with three domes began, which lasted seven years due to the monastery's poverty. The Vasilievsky Cathedral was conceived as a three-domed structure, as confirmed by the preserved foundations of two additional drums under the roof. However, it is unknown whether all three domes were erected and then two of them were destroyed, or if the cathedral had to be built as a single-domed structure from the start due to lack of funds.

In the 19th century, a three-tiered bell tower was added to the cathedral, somewhat squat, decorated with pilasters and carved cornices, connected to the church by a small refectory. Nearby is the refectory church of the Meeting of the Vladimir Icon of the Mother of God, which stands out for its rare eight-pitched roof covering for Suzdal. The decree of 1764, which deprived the monastery of its estates, left it without state support. In 1899, the monastery was annexed to the Rizopolozhensky Monastery and transformed into a female monastery. Closed in 1923, it was used for national economic needs, and in the 1950s it was restored. On January 31, 1995, the male community of the Vasilievsky Monastery was re-registered. After the warehouses were vacated, the monks had to build new housing, as the cell building and the abbot's house remained occupied by townspeople.