Ostrovsky Museum of local lore became part of the Pskov Museum-reserve in 1980. In 1991, the Trinity Cathedral was full handed over to the diocese, and exhibitions of the Museum were transferred to the building formerly serving the Alexander women's gymnasium, while changing your status on local history. Significantly expanded the scope of the Museum, began to appear more exposition exhibitions that tell the historical development of the city from the very beginning of its emergence and until the beginning of the 21st century. Also important is the fact that the opening of the hall of nature.

Museum of the city Island in 2001 took the property of the new building on the street Liebknecht, and July 18 of the same year took place the solemn opening of the Museum.

The exposition under the name "Fortress" tells the story of the city of the Island from the earliest times to the initial phase of the Northern war. The earliest mention of the Island date back to the year 1341, although long before that time in the area of this district began to appear the first human settlements. Originally this territory was inhabited by Livonians and Estonians, but over time these tribes displaced Krivichi. On one of the banks of the great river began to multiply settlement, and later in the middle of the river island site, was erected a small fortress, originally of wood, and soon the stone, after which the city got its name as the Island. This Island fortress was the last defensive line of the city of Pskov on the South side and up to the Northern war. Multiple ruins of the fortress was maintained until the beginning of the great Patriotic war, after Nazi troops were dismantled for the construction of the dam, and repair of roads.

In one of the halls under the title "History of the Island in the 18th – early 20th century" can be clearly traced, following the plans of the photos, how changed the face of the whole city, in this case, a smooth transition from militant merchant city in County town. Once was over the Northern war, the Island was almost depopulated, and gradually began to collapse irreversibly. In the late 18th century there appeared a new stage of development of the city began, a stone building in the middle of it, when was built the stone Trinity Cathedral, and at the very end of Polotsk street appeared the Church of the intercession. In Catherine's village was built the temple of the Savior during 1845, and by the end of the 19th century it became a women's Spaso-Kazan convent. For some time in the mid-19th century through the Great river were built chain bridges unique kind, on the Grand opening of which came the Emperor Nicholas I. Also at the exhibition you can see photographs of the architectural monuments of the city, has not survived to the present time. To view presents 19th-century furniture and an interesting collection of peasant dishes, and utensils this time. The Museum has a permanent exhibition dedicated to the samovar, and various tea utensils of the late 19th – early 20th centuries. As is known in Russia since ancient times loved to drink tea, which is brewed on a variety of herbs. At the end of the 19th century began to appear Chinese, Indian teas, what was the impetus for the emergence of samovars that were literally in every family. The samovar is mandatory inside the teapot, sugar tongs, tray and tea utensil.

In the Museum hall dedicated to the nature, can be considered a mammoth tooth, a variety of stuffed birds and animals, the hornet's nest – animals living on the territory of the area.

The Museum has a room called the "Great Patriotic war", in which collection of a rich collection of weapons and equipment of World war II.

Today take in the local history Museum has a group "Search". In the Museum there is a display of television and radio, and cars and motorcycles. All of the proposed exposition is constantly updated and supplemented. Here you can see the attributes of the Soviet era, busts, flags – symbols of the USSR.