The western and northwestern parts of the district lie within the basin of the tributaries of the Pola River, including the Polomet.

The center and the east of the district, including Lake Valdayskoye, belong to the basin of the Berezayka River, a left tributary of the Msta.

The divide between the basins of the Atlantic Ocean and the Caspian Sea thus crosses the district in its southern part.

[12] The area was located along the road connecting Moscow and St. Petersburg, and Valday developed as a major trade center.

Between April 1, 1919 and October 1920, the uyezd center was transferred to the town of Bologoye, but soon after it was moved back to Valday again.

Valdaysky District, with the administrative center in the town of Valday,[14] was established within Borovichi Okrug [ru] of Leningrad Oblast effective October 1, 1927.

[14] The district was not occupied during World War II, although it was located close to the front line.

[16] On July 5, 1944, Valdaysky District was transferred to newly established Novgorod Oblast,[16] where it remained ever since.

The main specializations were meat (beef and poultry) and milk production, fish farming, and growing potatoes.

[17] A railway which connects Bologoye and Pskov via Staraya Russa crosses the district from east to west.

The M10 highway, which connects Moscow and St. Petersburg, crosses the district from southeast to northwest.