Palkhor Monastery, located at the foot of the Dzong Fort in the northwest of Gyantse, it is so famous that its remarkable feature accommondates the three sects of Tibetan Buddhism in one monastery coexisting in peace with each other. The monastery originally belonged to the Sakya Sect and then to the Kagyu Sect and the Gelung sect got into it one after another. These sects had once become rival claims, but later they gave in space to each other. Therefore, the Palkhor Monastery is in coexistence of the three sects namely, the Sakya, the Kagyu and the Gelug, the offerings and the architectural styles are expressed that they incorporated things with diverse nature and gained the superiorities from each other.

The full name of the Palkhor Monastery is called "the Auspicious Wheel Joy Monastery". According to the historical records, this monastery was built in 14th or 15th century. This 9 storeyed pagoda is 32.5 meter high and has 108 doors. Its 77 Buddhist halls house some 100000 statue of Buddhas. So the pagoda is also famous as the "100000 Buddha Pagoda".