It was founded in the 16th century and its patron is St. Ioan Theologian. The monastery was restored in 1867. In the period 1894-1928 it was deserted by the monks and since then it is called "Pusti" (Deserted). In 1928 it was sanctified with a new name - "St. Ivan Rilski". At present it is deserted. It was declared a monument of culture.
The monastery is a complex including a church and half-ruined residential buildings. The church (robbed by treasure - hunters) was built up in the 16th century. It is one-nef, three-apse, with a cupola on a high cylinder. It is supported by three flying buttresses on the northern and southern side. Two layers of wall paintings are preserved - from the 16th century and from 1867. These were also damaged by treasure-hunters. At the foot of the ring of rocks there is a shallow cave called " postnitsata" which is difficult of access and where, according to the legend, St. Ivan Rilski lived. In the 19th century in the monastery there functioned a workshop for pressure forging - for engraving on copper. From the monastery terrace the water of the karst spring forms a beautiful waterfall.
Patron Saint's day is on October 19th.