According to Armenologist Aram Ghanalanyan, the town was named Yeghvard, because the area had been covered by a large forest with many types of roses and other flowers with a strong fragrance.
It is one of the oldest settlements in Armenia. The city was first mentioned in the 6th century AD. Based on the remains of the "Seghanasar" ancient settlement found at the west of Yeghvard, the area has been settled since the beginning of the 2nd millennium BC.
After adopting Christianity, the region of Kotayk became one of the most important centers of the Armenian Church. The ruins of the Katoghike Church are still found in the center of the town. It was a large three-nave basilica built during the 5th and 6th centuries, under the rule of the Amatuni Armenian noble dynasty.
The town has many historical structures dating back to classical times and the medieval period. The ruins of the 7th-century Saint Theodore Monastery also known as Gharghavank of Zoravan were found in the northeast part.
The only well-preserved historic structure of the town is the Church of the Holy Mother of God of 1301.
Yeghvard has a house of culture, 3 public libraries, 2 art schools, and a sports school.