The monastery is built on a hill near Tsachiana and Veni in Mylopotamos, 46km away from Rethymno.
Venetian documents of 1555 prove that it already existed at the time, whereas an inscription on the main gate dates to 1673 and mentions Jeremiah Sgouros as its founder.
The monastery had a main gate, a large courtyard, a two-aisled basilica, a fountain, and utility areas.
During the Ottoman occupation, the monastery took part in the liberation struggle. It was destroyed by the Turks and rebuilt soon after. In the late 1950s it was abandoned. Today restoration work is being carried out for its maintenance.