The name of the monastery is derived from the name of the Mirozha River, since the monastery is located at the place where the Mirozha joins the Velikaya River, on the left bank of the Velikaya.
The catholicon of the monastery is one of the two pre-Mongol buildings which survived in Pskov, and contains the frescoes of the 12th century.
The monastery, together with the Transfiguration Cathedral, is part of the Churches of the Pskov School of Architecture, which became an World Heritage Site in 2019.
The monastery, located 20 minutes walk from the Pskov Krom, was one of the cultural centers of the city.
The ancient buildings, with the exception of the Christ's Transfiguration Cathedral, have not survived.