Single-aisled basilica with two conched chapels, the south dedicated to St. Gregory and the north to St. John Chrysostomos. The walls are lavishly decorated on the outside with patterns in brick and tile. Two glazed clay icons were preserved on the pediment of the east side; the first depicts the three Hierarchs and the second the Crucifixion. They are exhibited now in the Byzantine Museum of Ioannina. The interior is decorated with wall paintings dated to the 17th century.

The church is located in the old quarter of the Tourkopazaro, in Arta. It was built at the end of the 14th century A.D. During the 17th century, the "Greek School" of the scholar Castorianos Manolakis was established in its precinct. The first scholars to mention the church of St. Bazil in modern times are the Russian archimandrite Antoninos in 1886 and the metropolitan bishop Serapheim in 1884.