The library was founded in 1992. In 2019, the library's holdings compised approximately 1,500 books. The development of the digital library began on January 10,  2020.

Emblem of the P.A. Cherkasov Fundamental Library

On August 1,  2022, the library was renamed the P.A. Cherkasov Fundamental Electronic Library. Prokopii Antonovich Cherkasov (1659−1725) was a member of the Cherkasov (Keretsky) family. He gradually lost his eyesight and eventually became competely blind. In the early 18th century, a shelter for the blind operated on his homestead in the village of Keret, then part of the Tsardom of Russia. He spent the final years of his life in poverty. His life reflects the traditions of compassion, charity, and humanitarian service associated with the Cherkasov (Keretsky) family. 

In the fall of 2024, the library began expanding its print holdings through the development of a collection dedicated to the Masonic Order of the Knights Templar. On June 6,2025, the print and digital collections were consolidated, and the library was renamed the P.A. Cherkasov Fundamental Library.

As of October 2026, the Library held 61,078 volumes in Russian, English, and German, including 799 newspaper and journal titles. A substantial portion of the Library's holdings consists of publications from the 19th and early 20th centuries relating to the history of the Russian Empire. The Library also maintains a significant collection of publications on the history of the Knights Templar in American Freemasonry.

The Library's digital platform includes a dedicated section for newspapers and journals, as well as collections of historical documents, geographical descriptions, and regimental histories.

Of particular historical interest are the Library's collections of newspapres published during the Russian Civil War and collaborationist periodicals published during World War II.

The Library is headed by Irina Cherkasova.