Palaia Kameni is a smaller volcanic island than Nea Kameni, located also in the center of Caldera. It was formed from volcanic lava during the explosion of 46-47 AD. Its area is 60 hectares and the highest point reaches 98.5 meters above sea level.
All around the island, there are hot springs and during the summer many tourists visit the island in order to swim in the hot springs of warm and yellow (from sulfur) waters. Both Nea and Palaia Kameni are included in the network of protected areas NATURA 2000.