One of the oldest Monasteries in the state. The Monastery is situated at an altitude of 7000 ft and at a distance of 6 kms from Gyalsing. The Monastery is the only institution in Sikkim having the incredible Sangtok – Palri, a wooden carving depicting the various realms of Buddhism.

The Monastery is established by Lhatsun Champo, one of the reverend Lamas, who have performed consecration ceremony of the Chogyal (religious monarch) of Sikkim. The Monastery was first built as a small temple in the late seventeenth century by Lhutsun Champo. Later during the reign of the third Chogyal Chakdor Namgyal, the third incarnate of Lhutsun Champo, Jigme Pawo rebuilt the structure in term of a big Monastery.

A well furnished tourist cottage is located near the Pemayangtse Monastery on a small hilltop.

The Monastery houses numerous religious idols and other objects of worship, most of which are priceless because of their antiquity.