The Monastery was established by three Mt. Athos monks, Averkios, Gervasios and Serapionas, during the end of the 18th century. The Monastery is located in the village Armolia, where the church of the Virgin Mary had been previously constructed.

Over time, the Monastery became an important spiritual center of the southern villages. The Monastery was destroyed during the Massacre of Chios (1822), however it was renovated in 1828. Today, there is one monk living in the Monastery.