In June 1908 the first official commemoration of the memory of Cossacks took place in the island of Zhuravlykha. At the same time the idea of constructing a temple-monument in that place to collect remnants of thousands of nameless heroes there occurred. At the end of the spring of 1914 a three-altar St. George Cathedral, two-storey premises for monks (with a monastery canteen and apartments for the archbishop), a hotel, a wall to the west, a house for an orphan asylum were built.
According to the decision of the Synod of the Russian Orthodox Church as of June 4, 1954 the monastery was liquidated, and a parish serviced by monks was established at the Cossacks’ Graves. The monks’ prayer over the Cossacks’ bones restored in July 2002.
The monks of the restored monastery are reconstructing the holy shrine, carrying out their economic activity, dealing with missionary activity, publishing their own newspaper.