This is one of the oldest Orthodox monasteries in the Mogilev region, known since 1380. The Holy Dormition Monastery was founded by the son of the Lithuanian prince Olgerd Lugven, who in Orthodoxy was called Simeon. It is believed that Olgerd himself was also Orthodox and all his children were the founders of various churches and monasteries.
Tradition says that once Lugven became seriously ill and could go blind. In a dream, he dreamed that he could receive healing by washing himself with water from a source not far from Mstislavl.
The prince followed there and received healing. In gratitude for the mercy of the Mother of God, who helped him, he decided to found a monastery here. After the revolution, the monastery was ruined, and government institutions were placed in it. The revival of the monastery took place in the early 2000s, when the reconstruction was carried out.