It is the oldest Christian monument, preserved in the Island. It is located in the village of Apolpena, inside the oil grove. It was founded around 1449 and 1450 or according to other sources, around the 11th century. Its catholicon, the main church of Panagia Hodeghetria, is a single – aisled vassiliki, wooden roofed, with a three – sided apse to the east. Fragments of the wall paintings are preserved in the south and east walls of the interior which combine the Palaelogy with the West technique. According to tradition, in this monastery hermited Helen Palaeologhina, daughter of Bishop Mistras Thomas Palaelogos, sister of John VIII Palaeologos, wife of Bishop of Servia Vrankovits and mother in law of the last duke of Lefkada, Leonardos II Tokkos.