Geological and geomorphological conditions pertaining to Ledyanaya Gora, the well‐known body of buried Pleistocene glacier ice on the lower reaches of the Yenisey, were investigated. It was found that the beds of folded ice are located in the cores of ridges and hummocks and that the sediments overlying the ice consist mainly of flow tills. A terrace abutting on this ridged topography and composed of glaciolacustrine rhythmites, lies at the same or higher elevations. Hence the Boulton model of relief inversion is quite appropriate here. Eight phases of delayed deglaciation during the late‐Pleistocene and Holocene have been distinguished. Since the flow tills contain many blocks of peat and fossil wood it is suggested that the present‐day relief was formed after the Holocene climatic optimum. Apparently Holocene deposits overridden by flow tills during the course of delayed deglaciation have been reported as “interstadial”; or “interglacial”; sections from elsewhere in Northern Siberia or the North of the European part of the USSR.