It is situated off the Northern mouth of the Khatanga Gulf (Russian: Хатангский залив), 15 km north of Bolshoy Begichev Island.

This island is granitic and has high rocky cliffs on its eastern side.

The west side of the island is sloping to a gravel beach.

This island was useful as a landmark for ships plying the Northern Sea Route in the past.

For administrative purposes Preobrazheniya Island belongs to the Sakha (Yakutia) Republic of the Russian Federation.