It was founded in the beginning of the 15th century. The monk Nifon, one of the founders, became later the archbishop of Thessaloniki and then Patriarch of Constantinople. His role in the organization of the Romanian church was decisive. He was declared saint after his death in 1508 and his memory is celebrated on August 11. In a silver reliquary are kept the bones of holy Gabriel, the assistant of the saint. The monastery is 100m from the old national road, which connects Lygourio with Corinth, under the imposing Arachnaio Mountain. The remaining buildings were restored in 1593. The monastery became a convent in 1945. The old catholicon was demolished to be replaced by a newly-built one. The recent cross-domed church is of byzantine order and its interior is adorned with beautiful frescoes. The convent’s entrance is southeast and the cemetery is outside the convent. The nuns do handicrafts; they paint holy pictures and do some farming.  The convent organizes congresses and seminars for scientific and religious associations.