It is 5 km from Veliko Târnovo, on the road to Gorna Oryahovitsa, at the entrance from the southwest part of the village of Arnabasi. The monastery was destroyed by the Turks and restored in 1680. The church and chapel, which is dedicated to “Saint Ilie”, have well preserved frescoes, each with a unilateral semi-cylindrical vault and a nave. The iconostasis is from the 17th century, with polychromatic sculptures, and the icons in the chapel are made by a representative of the school of painting from Tryavna. Particularly valuable is the second chapel, made in 1746, where we can see the wooden cross inlaid with stones and enamel.