The history of the origin of Odessa Holy Assumption Monastery is associated with the name of Metropolitan of Kiev and Galicia, Gabriel. In 1814 he founded the bishop's courtyard on the lands, which were donated by the Moldavian nobleman Alexander Teutul. 10 years later this courtyard turned into Odessa Holy Assumption Monastery.

First, on the place of the cathedral there was built a small wooden church, which in 1825 was replaced with a stone temple with two altars. In 1834 there was erected to the second monastery temple with a bell tower due to voluntarily donations by the merchant's wife Daria Harlambu. After the first church was destructed in 1936, there was erected a chapel in 1953, where was the source of the monastery.

In 1834 the monks built the third church at their own expenses, which had the name of St. Nicholas. A little more than 100 years later there were built the dome and bell tower over the temple, and in 1920 on the east side there was built a fraternal building.

In 1961 in the building of the former monastic hotel there has been moved Odessa Theological Seminary, which has erected a temple in honor of the saint patron – Saint Andrew.

Currently, Odessa Holy Assumption Monastery is famous for its shrines, which are stored there: a piece of Christ's robe, a piece of tunic of the Mother of God and the relics of many saints. Now the number of monks and parishioners has increased several times: the building of the church does not accommodate all church people.

In 1998, on the left of the monastery's cemetery, behind the Assumption Church, there started the construction of a new cathedral, a project of which supposed the construction of the church in the Old Russian style. The works have been carried out by voluntary donations of citizens, and the unfinished church with five domes stands already on the beach.