It was founded in 1077 by the blessed Parthenios Varnakovitis and is dedicated to Virgin Mary (Assumption). It was loved and protected by Komninoi, Palaiologoi and Kapodirtrias. In the Abbey there was a secret school from 1520 until the end of the 19th century.
In 1821 it was the center of the operations of the Kapetanaion (chief warriers) of the region. Among the blessed figures that took monastic vows there, apart from the founder blessed Parthenius, were the blessed David of Evia, the Schoolteachers Kallinikos and Kavasilas, the heroic monk Theoharis etc. In a document of 1212 AD 96 priest-monks are reported. Today the visitor of the Abbey will be offered hospitality by Mother Superior Theodosia and the fraternity of 10 women monk and will experience the holy shiver genuflecting the icon of Virgin Mary. The Abbey's visitor should pay attention to three sights.
In the walled in sign the date of its creation is written. A stone plate 1,52m long and 0,22m high above the entrance from the vestibule to the Temple.
According to Orlando the Byzantine mural of Virgin Mary holding Jesus was created before 1453.
The floor of the Abbey which is made of marble and it covers the whole surface of the main Temple and the harthex, that is, 100 square metres. It maintains the initial layout and has many animal and geometric representations. It is considered to be a unique and excellent Byzantine example of the 11th and 12th A.D. Varnakiva plays an important role in the tradition and the history of the area. During the celebration of Virgin Mary, thousand of visitors from all parts of Greece visit it.

