Matepani monastery also known as Matepani Gumba was established in 1960 A.D. by Nyeshang monks who had relocated to Pokhara from Manang. It is the oldest and largest monastery in the Pokhara valley. The monastery is about one km from Sitaladevi temple.  It is located on top of a tiny green hill in the northeast of Pokhara city. The Gumba exquisite interior with beautiful colours in the painting that signifies and represents many instances of Buddha’s life and various narratives that make up Buddhist religion.

Another sight to behold is the magnificent statue of Lord Buddha in meditation. There are also a few statues located in a garden at the back of the monastery. Most of the people visit this area during several festivals such as Lhosar, Buddha Jayanti, special dedicated puja of family members etc. Aside from its religious significance, it has striking scenic beauty and ideal vantage point to adore the beauty of the Pokhara valley, mountains and Mt. Machhapuchre. The plants found in this area includes Sal (Shorea robusta), Sissoo (Dalbergia sissoo), Chilaune (Schima wallichii), Rani Salla (Pinus roxburghii), Peepal (Ficus religiosa) etc. This area is popular for morning walk and meditation among the nearby communities.