The first written mention of the monastery dates from 1627, although Sigismund von Herberstein had alluded to the "Holy Mountains" area as early as 1526.

One of his heirs, Alexandr Mikhailovich Potemkin, and his wife Tatiana, née Princess Galitzine, financed the monastery's restoration, starting in 1844.

The lavra's main Dormition Cathedral was designed by Alexey Gornostaev, who included a traditional Byzantine tower.

[citation needed] On October 25, 2005, the National Bank of Ukraine issued its 10-hryvnia commemorative coin depicting the Sviatohirsk Lavra.

On 12 March 2022, it was damaged by a Russian airstrike on the nearby bridge across the Donets, at which time about 520 refugees were present in the monastery.