It was an active centre of Cistercian expansion: among its daughter houses were the monasteries of Waldsassen (1133), Reifenstein (1162), Loccum (1163) and Dobrilugk (1165).
During the German Peasants' War in 1525 the abbey was virtually destroyed and, although restored within a very short time, was dissolved in 1540.
From 1994 the "Brotherhood of Jesus" ("Jesus-Bruderschaft") from Hünfelden-Gnadental in the district of Limburg-Weilburg in Hesse took over the buildings and set up a community in them.
In 1996 Volkenroda Abbey was designated as a "Protected Site of Cultural Heritage of European Importance".
In the monastery buildings a European Youth Education Centre was established.