This orthodox male monastery located between the Volga and the Kostroma Rivers was first mentioned in chronicles in 1432 but it was founded much earlier.
The territory of the Hypatian (Ipatiev) Monastery is divided into two parts - those of Old and New town - walled with high stone walls. The compositional centre of the monastery is represented by the Trinity cathedral and belfry.
In 1613 the Trinity cathedral of the Hypatian Monastery saw the ceremony of Mikhail Romanov's coronation. The monastery became a cradle of the House of Romanovs. The members of the tsar's family treated it as a family's sacred place, and coming to the throne every new tsar deemed it his duty to visit the monastery.
After the October Revolution, in 1918 it was abolished and its valuable effects were nationalized. In 1958 the Kostroma historical architectural reserve museum was opened in the Hypatian Monastery. Religious services resumed in 1989.