In 1980, Kyabje Khenchen Jigme Phuntsok founded Larung Gar, which was officially named by the 10th Panchen Lama in 1987 as Serta Larung Five Science Buddhist Academy, also known of in Tibetan: བླ་རུང་ལྔ་རིག་ནང་བསྟན་སློབ་གླིང་།, ZYPY: Serta Larung Ngarig Nangdän Lobling,, located in the Larung Valley (喇荣沟) near the township of Larung in Sêrtar County, Garzê Prefecture, Sichuan Province, known of as Kham. The Serta Larung Five Science Buddhist Academy grew from Khenchen Jigme Phuntsok's mountain retreat. The purpose of Larung Gar's Academy is to provide an ecumenical training in Tibetan Buddhism and to meet the need for renewal of meditation, ethics, and scholarship all over Tibet in the wake of China's Cultural Revolution of 1966-76.

Kyabje Khenchen Jigme Phuntsok,, was a Nyingma lama and Terton from Sertha Region. His family were Tibetan nomads. At the age of five he was recognized "as a reincarnation of Lerab Lingpa. Known also as Nyala Sogyel and Terton Sogyel, Lerab Lingpa was an eclectic and highly influential tantric visionary from the eastern Tibetan area of Nyarong ." He studied Dzogchen at Nubzor Monastery, received novice ordination at 14, and full ordination at 22. In 1980, he founded Larung Gar, the largest Tibetan Buddhist monastic academy.