The village is 32 kilometres from Argos, built on an altitude of 977, being the most mountainous village of Argolida region. It took its name from a nearby spring, Kryoneri meaning "cold water" in Greek.

The village is called the "balcony of Argolida", thought today it stands uninhabited, its occasional residents being shepherds from nearby areas. Most of the old residents moved, creating the Elliniko settlement, while others migrated to Tourniki. Kryoneri is known since ancient times, since it is the place where the plant named European Yew (Taxus Baccata scientific name) grows in the wild, and was used by the ancient Greeks for the creation of medicines.