The monastery was founded in 1188 by the great Armenian cleric Mkhitar Gosh. Mkhitar is most famous for having compiled a collection of Armenian laws. The monastic complex is large and well endowed, and was for a brief period an important center of Armenian medieval culture. The monastery is also famous for the intricately carved khachkar, the famous "Aserghnagorts" (embroidered), the work of Master Poghos dated 1291.