The monastery is situated on a small island of Snagov Lake. It was first founded in the 14^th century by Mircea the Old Voivode, and it was refounded by Vladislav II Voiovode and Vlad Tepes Voivode in the 15^th century. The church was constructed during the reign of Neagoe Basarb Voivode between 1517 and 1521.
Its architectural style follows the architectural pattern that is characteristic of the monasteries situated on the Holy Mount Ethos. The church was painted in 1563 on account on Petru cel Tanar (Peter the Young) Voivode.
The paintings constitute the greatest mural complex to be found in all the Orthodox church of Romania and were executed by Master Dobromir cel Tanar (Dobromir the Young).
Beginning with 1840, here, in the monastery there were exiled a lot of people who had been persecuted by Romania’s rulers; they died and were interred within the monastery cemetery.
The holy establishment has a significant cultural role: the printing house set up by Antim Ivireanul functioned on the monastic premises after the monastery had undergone extensive repairs and restoration works during the reign of Constantin Brancoveanu Voivode.
After the secularization process which took place in the 19^th century, all the monastic cells were pulled down with the exception of the church – which, being vacated gradually decayed. The church was restored in 1904 and in 1936.
Subsequent renovation activities were carried out on the orders of the Committee for Historical Monuments, starting in 1941 and ending in 1953. In 1966, Patriarch Justinian, initiated further renovation activities.