It is located near the bank of Kokytos river, a tributary of Acheron river, at the village of Kypseli.
The katholikon was built by the Despot of Epirus, Michael II Doukas, in 1242, as evidenced by a brick inscription on the drum of the southern window of the transverse arch.
The chapels were built later and the narthex was built in the late 13th century. The katholikon was built at the same time with the Altar of the monastery which has been converted into the church of Agios Georgios.
The frescoes of the katholikon date from the 17th – 18th centuries.
The katholikon of the monastery is well preserved. It is a three-aisled cross-shaped church (three-aisled basilica with a transverse arch). Outbuildings have been added to the three sides of the church, with the exception of the eastern one, and three-part compartments to the northern and the southern ones.
The masonry is reticulate tiling (limestone framed by bricks), and bears rich pottery decoration, especially in the arch.
Today the church is one of the attractions of the area.
