Many of the annual festivals of the Gompas take place in winter, which is a relatively idle time for majority of the people. These take the form of dance-dramas in the gompa courtyards. Lamas, attired in colourful robes and wearing masks, perform mimes symbolising various aspects of the religion such as the progress of the individual soul and its purification or the triumph of good over evil. Local people flock from near and far to these events.

The biggest and most famous of the monastic festivals is that of Hemis, which falls in late June or early July, and is dedicated to Padmasambhava. Every 12 years, the gompa's greatest treasures, a huge Thangka, is ritually exhibited. Its next unveiling is due to take place in A.D 2004. Other monasteries, which have summer festivals, are Lamayuru (early July), Phyang (late July/ early August), Tak-thok (after Phyang) and Karsha in Zanskar (after Phyang). Like Hemis, the Phyang festival too involves the unveiling of a gigantic thangka, though here it is done every third year.

Spituk, Stok, Thikse, Chemrey and Matho have their festivals in winter between November and March. Likir and Deskit (Nubra) time their festivals to coincide with Dosmochhe, the festival of the scapegoat, which is celebrated at Leh in late February. Dosmochhe is one of two New Year festivals, the other being Losar, which falls around the time of the winter solstice.