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The Valday Iversky Monastery was built on Selvitsky Island in the middle of Lake Valday. This lake is located in the Novgorod region, 150 km from Veliky Novgorod and 220 km from Tver. The monastery was founded in 1653 by Patriarch Nikon. The Valday Monastery is located on the protected territory of the Valday National Park. 

Nikon was the Patriarch of the Russian Orthodox Church during the reign of Tsar Alexey Mikhailovich. He made Church reform and by the middle of the 17th century had an impact not only on the church, but also on the state affairs of Russia. Patriarch Nikon believed that the northern glacial lakes with a rugged coastline and a huge number of islands would be a good place to create secluded monasteries, similar to the Athos monasteries in Greece, where access to ordinary people is limited. Nikon said: "Paradise is in heaven, and Valday is on earth." The patriarch built the Iver Monastery as a prototype of the Iver Monastery on Mount Athos. 

In addition to the Valday Iversky Monastery, Patriarch Nikon also founded the New Jerusalem Monastery in the Moscow region. It was built as a copy of the Church of the Holy Sepulchre in Jerusalem. He also founded the Onega Monastery of the Cross on Kiy Island, where Nikon escaped during the voyage from the Solovetsky Monastery

The Valday Iversky Monastery is located on the small island of Selvitsky in the center of Lake Valday. The city of Valday is 10 kilometers away. You can drive up to the monastery through the larger Ashberry Island, which is all overgrown with dense coniferous forest. The territory of the Valday Iversky Monastery is small, only 7 hectares. There are walking paths around the walls of the monastery along the lake shore, and there is a boat pier in front of the Holy Gate. 

In 1653, under the personal supervision of Patriarch Nikon, the construction of temples and monastery walls began. They were initially built in stone. Near the pier is the gate church of Metropolitan Philip of Moscow. The 1879 building has been preserved to this day. After entering the monastery, visitors see the outer courtyard. It houses the Northern Guest House Building and the Southern Guest House Building. Pilgrims live here. 

In the distance, another gate church of the Archangel Michael is visible. The gates of the Archangel Church were built in 1685. On the right, the monastic cell building is attached to it, and on the left – the Treasury Building with Nikon Tower. 

In the inner part of the monastery there is a cozy courtyard. On the right side of the courtyard, the Abbot`s Building with a bell tower was built (1680). On the left side is the Epiphany Church (1656). In the distance, on the highest point of the island, the majestic Assumption Cathedral of the Iversky Monastery is visible. It is also called the Iversky Cathedral. It was built in 1655. The height of the five-domed temple reaches 43 meters.