The monastery, named after Archangel Michael, and the cathedral of the Ukrainian Orthodox Church are situated on the site of the cathedral erected in the early 12th century by the Prince Sviatopolk Iziaslavovych. It was one of the largest monasteries of Ancient Kyiv and served as the family tomb of the Iziaslavovychs.
In the 30s of the 20th century, the entire complex was demolished to build a government quarter in its place. However, this project has never been implemented. In the 1990s, a modern cathedral with a baroque bell tower was built, and in the early 2000s, the original 12th-century frescoes, which had been transferred from the medieval cathedral before its demolition, were returned to the church.