The present invention is directed to a container and method for shipping and storing frozen products. In particular, the present invention is directed to an insulated container for shipping and storing frozen tissue samples for an extended period of time, for example at least 72 hours. An exemplary embodiment of the container of the present invention includes a body having an open end and a product chamber lined with vacuum insulated panels, a spring assembly inside of the product chamber for supporting a lower cooling block and a stack of tissue packages (e.g. engineered tissue samples), and a lid assembly including one or more upper cooling blocks suspended therefrom. When the lid assembly is secured on the body of the container, the tissue packages are held in place between the upper and lower cooling blocks by the force of the spring assembly. The body of the container is dimensioned so that it may fit within an outer cardboard carton if desired for shipping.