This chronicle reflects the events in post-Kievan Rus' from year 1498 to 1649, revealing valuable information about the political and economic conditions of the Ukrainian lands, as well as their relations with other polities, such as Poland, Moscow, and the Crimean Khanate.
It describes such events as the Crimean Tatar raids, imposition of Catholicism in Western Ukraine by Uniate clergy and nobility, the Ukrainian Cossack rebellion of the 1630s, and the Khmelnytsky Uprising (1648—1654).
It mentions a number of unique stories from Ukrainian history that are not available from any other source.
The text of the Lviv Chronicle was discovered in the beginning of 19th century by the Western Ukrainian Russophile historian Denis Zubrytsky.
The Etterov copy of the Lviv Chronicle (GPB F.IV.144) is stored in the Russian State Library.