This is one of the oldest cave monasteries in Crimea, carved into the western slope of Monastyrskaya cliff below the ruins of the medieval Kalamita Fortress. According to legend, the monastery was founded by Pope Clement, one of the first popes, who was exiled to the quarries of Inkerman. Clement was killed there on the emperor's order.

In 1931, church services were abandoned at the caves and the monastery property was transferred to the Sevastopol Museum Association. The revival of the monastery began in 1991.