The monastery was founded by Saint Ferapont in 1398 in the inhospitable Russian North, to the east from the Kirillo-Belozersky Monastery, named after his fellow monk, Saint Kirill of Beloozero. The fame of the monastery started to spread under Kirill's disciple, Saint Martinian, who was to become a father superior of the Troitse-Sergiyeva Lavra in 1447.