The Yonghe Lamasery was built in the 33rd year of the Kangxi reign period of the Qing Dynasty (1694) to serve as a residence for Prince Yinzhen In the third year of the Yongzheng reign period (1725), it was renamed as the Yonghe Palace; and in the ninth year of the Qianlong reign period (1744), it was rebuilt into a lamasery.

The Yonghe Lamasery contains five main halls along a north-south axis and three memorial archways. In the Pavilion of Ten Thousand Happinesses rises the statue of Maitreya, 18 metres above ground and eight metres below ground. The statue, carved from a single trunk of white sandalwood, is the largest wooden statue of Buddha in China. In 1993, it was included in the Guinness Book of Records.

It can be reached by bus Nos. 116 and 13.