Halepa Monastery was founded at the end of the era of Venetian rule and, according to documents dating back to 1555, it owned a significant amount of property. Inside the Monastery, there is a fountain, a stable, as well as workshops. The founder, according to an inscription at the Monastery, was Ieremias Sgouros in 1637.
The monastery was destroyed during the Ottoman era but was subsequently reconstructed.
Its catholicon is situated in the middle of the courtyard, but unfortunately only ruins remain. This is a two-aisled domed basilica dedicated to the Birth of Jesus and the Transfiguration of the Saviour. In the 19th century, Abbot Ploumis wanted to build a larger church around the catholicon, but this work was never completed. The Church of Agia Marina is located just outside the Monastery.