Written sources on the basis of the monastery is not preserved. According to oral tradition, in the V century, two monks returned from Holy Mount Athos to Cyprus – Dorofei and Dositheus. The natives of Lapta, they wanted to found a new abode not far from their native places. The wanderers wandered for a long time in search of a suitable place, until they came to the area of modern Eros. Here, in a place rich in vegetation, they sat down to take a break and pray to St. Panteleimon, asking him for advice and intercession. Probably the saint heard them. How could it be otherwise, if immediately after the ascension of the prayer among the stones, the spring was hammered? Place for the monastery was found.
At first a small church and several cells were built, but to worship St.. Panteleimon, whose icon and part of the relics Dorotheus and Dosifei brought with them, came to a lot of people. It is known that by 1600 the small monastic hostel had become a large monastery. The monastery was not only a place of pilgrimage, but also gave work to the local population. Peasants, who cultivated numerous fertile fields belonging to the monastery, settled nearby. This is how the village of Mirtha (Chamlibel) appeared.
Vasily Grigorovich-Barsky visited these places in 1735. He tells, in spite of the fact that only the igumen and three monks lived in the monastery, the stream of those suffering to the miraculous icon did not dry up. Rich Christians donated money and property without hesitation in gratitude for healing, which made it possible to build a new church in 1710. It is surprising that this was done during the years of Ottoman rule in Cyprus, when many monasteries and churches ceased to exist.
From 1880 to 1917, the monastery was the temporary residence of the Bishop of Kyrenia. By order of Bishop Chrysanth, in 1889, large-scale construction began — buildings were erected to the right and left of the temple, and repairs began to the church. By the beginning of the 20th century, the overgrown village no longer had enough water from a wonderful spring opened by St. Panteleimon in response to the prayers of the monks, and numerous brethren and pilgrims needed new facilities. A large-scale reconstruction, during which an aqueduct was also built, the remains of which can still be seen near the monastic walls, was completed in the 20s of the 20th century.
Monastery of St. Panteleimon was a very popular pilgrimage site among the Greek population of Asia Minor. On the day of the memory of the saint, July 27, the monastery was always very crowded. After the forced exchange of the population following the defeat of Greece in the Second Greek-Turkish War of 1919-1922, there was no one to come from overseas and the monastery gradually fell into disrepair.
In the 1950s, in the course of reforms carried out by the Cyprus Church, it was decided to get rid of part of the unprofitable property. Unfortunately, the monastery of sv. Panteleimon was closed, abandoned buildings of the former monastery quickly began to collapse.
In 2010, the International Council for the Preservation of Monuments and Sites announced the development of a plan for the reconstruction of the monastery.