Prince Alexandru Lăpuşneanu built Slatina Monastery as his future burial place. It nestles between three hills, about 30 km northwest of Fălticeni, in the middle of peaceful countryside. Transylvanian builders built Slatina Monastery, and the marble used for the floor and the tombstones also came from Transylvania. Unknown Moldavian artists painted the church. The monastery was completed in 1561. Between 1561 and 1564 Lăpuşneanu was in exile, and during this period the country and especially its churches and monasteries were pillaged. His throne regained, Lăpuşneanu repaired Slatina. He founded a school of music, a library with manuscripts and printed books, and attempted to bring a printing press from Lvov but with no success. One of the scholar monks, Isaiah, formed an important school of calligraphers and miniaturists in Slatina. In 1568, during the last year of his life, Lăpuşneanu became a monk and took the name of Pahomie, a fact recorded on his tombstone.

A few years after the death of Alexandru Lăpuşneanu, the monastery was pillaged again. The church was repaired, and the superior Nil placed a posthumous commemorative inscription above the entrance of the edifice on behalf of Lăpuşneanu. The inscriptions of Probota and Putna Monasteries were used as models.