The monastery was founded in the 11th century and it reached a period of major prosperity and wealth during the peak of the fur trading in Kastoria. The funds related to the fur exports gave a major boost to construction and arts.
The result of this period can be seen in the monastery of Mavriotissa, where there are numerous murals and paintings. During the Ottoman period though, all eyes of saints on the murals were removed by the Turks.
Apart from the faithful who see the monastery as a major pilgrimage, many people visit it to admire nature and hike on one of the many routes of the region.