The site of the abbey in Ramsey is now a Scheduled Ancient Monument. Most of the abbey's buildings were demolished after the dissolution. Parts of a few buildings survive, and are now Grade I and Grade II* listed buildings.
Ramsey Abbey was founded in 969 by Oswald, Bishop of Worcester on land donated by Æthelwine, Ealdorman of East Anglia, where he had already built a wooden chapel for three monks. The foundation was part of the mid-10th century English Benedictine reform. Æthelwine gave the new foundation properties including an estate at nearby Bodsey and Houghton Mill.
The important Ramsey Psalter or Psalter of Oswald (British Library) appears to have been made for Ramsey Abbey around 980. This is not to be confused with another Ramsey Psalter in the Pierpont Morgan Library, New York (MS M. 302), made between 1286 and 1316.
Æthelwine at the suggestion of Saint Oswald, Bishop of Worcester founded a small hermitage for three hermits with a wooden chapel at a location indicated by the actions of a bull, on the island of Ramsey with impassible fen on three sides. Impressed by the story Oswald sent a Prior from Westbury (Germanus) and 12 monks to form the Abbey. Starting in 969, a large stone-built church was built over the next five years. Two towers stood up at the topmost points of the roofs, the smaller one at the front of the Church towards the west, 'offered a beautiful sight from afar' to people coming to the island. The larger one, in the middle of a four-armed structure rested on four columns stabilzed by connecting arches. This abbey building remained until a Norman abbot had a grander church built in the 12th century.
In 1143 Geoffrey de Mandeville expelled the monks, used the abbey as a fortress and considerably damaged the buildings.