Yangang Tashi Palding Monastery was  founded by Vth Lhatsun Pema Dechhen Gyatso in 1787 A.D. It was said that Lama Pema Dechen Gyatso while transfering the spiritual properties of former lamas from west Sikkim to Tholung Gonpa, during Gorkha war, rested at this place on route to Tholung, North Sikkim.Later, he blessed the site as ‘Tashi Palding’ and upon which a small Lhakhang was erected to cater the religious needs of the local people.

The date of establishment as 1841 indicated in Gazetteer of Sikkim might be the year in which rebuilding was commenced for the second time because Dr. Hooker,an eminent botanist,during his visit to this place in 1848 saw the monastery in the process of construction. There is a small statue of Drubchen Thangtong Gyalpo which was brought from Tibet by Rai Bahadur Ugen Pintso after the Yonghusband expedition to Tibet. In course of time, the old structure was damaged by an earthquake and was reconstructed in 1982. However, the management Committee had started renovating the present structure into a beautiful traditional shape to attract the tourist since the State government has planned to establish a Sikkim University nearby this Gonpa. The monastery follows Nyingmapa Sect and functions all the major ceremonies throughout the year. Below this gonpa lies a Lake called ‘Tigdey Tsho’ which is said to be the dwelling place of a local deity and considered sacred.