The monastery is located on the northern side of Ikaria, in the Municipal District of Evdilos, and near the village of Pigi. It is dedicated to Osia Theoktisti from Lesvos, who is associated with the islands of Paros and Ikaria, although not much information is known about her life. The foundation date of the monastery is unknown but it definitely operated in 1688 based on an inscription on the south wall. The complex consists of a Katholikon, fifteen cells and various auxiliary rooms. The monastery is a one-aisled, vaulted basilica with beautiful frescoes in its interior: figures of saints and monks, scenes from the life of Christ, figures of founders and sponsors etc. Stylistically, the paintings reflect the tradition of Cretan painting and are attributed to at least two painters. One of them is Anagnostis Chatzipantelis from Chios and the other one is possibly an assistant who took up the painting of some parts of the temple. A bit further from the monastery, you will see the impressive Chapel Theoskepasti, built inside a cave under a large rock. According to local tradition, when the people discovered the relics of the Saint in a crypt behind the sanctuary of the monastery, they brought them to the cave and built this chapel. Inside the chapel you will see an old carved iconostasis, dating back to 1894. Saint Theoktisti is celebrated on November 9th.