The Monastery was probably built during the first centuries of the Venetian occupation. There are incised inscriptions since 1332. The northern aisle was the first to be built; the rest, as well as the exonarthex, were added later.

The northern aisle is dedicated to the Virgin, the southern to St John the Precursor and dated in 1400-1428 and the lateral to St Phanourios, whose frescoes were painted in 1438 by the Cretan painter Constantinos Ricos. The church' s frescoes are very important and well preserved.