Iversky monastery is situated on one of the picturesque islands of the Valday Lake. One day, on his way from Novgorod to Moscow, Nikon discovered a very nice place where he ordered to build a monastery. And in 1653 the Iversky Monastery was erected on that very place.

After revolution of 1917 the monastery was closed. Its archives were moved into the custody of the Institute of Russian history in Leningrad. According to A.Solzhenitsyn, there was a prison for young criminals in the 30s of the 20th century. Now the monastery is under reconstruction and some of the religious services are already held here.

The first stone building of the monastery was the Assumption Cathedral (1656). At the time the monastery was encircled with high wooden walls with 10 watchtowers. The Assumption Cathedral is the oldest building in the Valday area. This five-domed cathedral was built by serfs and workmen under the direction of Averkiy Mokeev. In 1666-1702 a famous Russian architect Afanasy Fomin constructed the Epiphany Church and the Belfry. The brick walls erected in the 18th century remained intact.