The monastery was founded in the first half of the 16th century through the efforts of St. Tryphon of Pechenga. For the future monastery, Tryphon chose the place where the Namajoki River flowed into Pechenga, but later, when he left the monastery, the monks decided to move a little higher along the mouth. Later, the Pechenga Monastery was repeatedly moved from place to place, burned, was abolished by Catherine II and destroyed after the Bolsheviks came to power. The revival of the monastery began in 1997, and today the complex of buildings has been almost completely rebuilt. The monastery still houses the relics of more than 100 martyrs who died in 1589 during the destruction of the monastery by the Finns. Like the Theodorite Monastery, Pechenga Monastery is entirely built of wood and looks very authentic.