The construction of the monastery "St. St. Cyril and Methodius" in Old Preslav is connected with the 1000th anniversary of the Assumption of St. Methodius in 885, the conversion of the Bulgarians in 864, but subsequently also 1000 years from the reign of Simeon the Great. For the implementation of the idea, the Fourth Ordinary National Assembly in 1884 decided to erect a temple-monument. Construction began at the end of 1897, but was completed only in 1918. The works were finally completed in 1926 and the following year 1927, when the 1000th anniversary of the reign of Simeon the Great was completed, the temple was consecrated by Metropolitan Simeon of Varna and Preslav.