It was built around 1000 A.D. by the brothers Aaron, Moses and John, who came from Archis and were supported by King Leo VI Wise. The three brothers one day as they were rebuilding the monastery, left a plank in the catholic church and upon returning to work from their prayer, they witnessed a miracle.
The figure of Saint George was depicted on the plank and so the Monastery celebrates May 6 in his honour (Julian Calendar - the feast of Saint George the painter).
Today, Slavic and Greek manuscripts are kept in the monastery and about 55 monks live there.