The church building was reconstructed on the location of an earlier church within the period 1520-1521; it was founded by Neagoe Basarab Voivode and by his wife, Despina Doamna.
At the time of the consectation, the church had not been painted; the altar walls were painted in the year 1752, whereas the church building in its entirely was painted eight years later, in 1760.
The iconostasis, which was sculpted in lime-tree wood and was overlaid with gold, dates from the time of the founding of the church.
The monastic establishment underwent several rounds of restoration and repair activities that were carried out over a span of twenty years: they commenced in 1940, continued within the oeriod 1956-1957, and were completed within the period 1962-1963.
In 1980, on account of the fact that there were initiated hydrotechnical operations on the Olt River, the islet had to be raised to a higher level – more precisely, six metres above the water level – and, naturally, so was the Church of the Ostrov Skete.
Soon afterwards, the Abbot’s house was reconstructed. Worthy of note is the fact that the holy establishment is located in a lovely area, right in the middle of a beautiful widespread park that incorporates forty-seven different species of trees, shrubs and rose-bushes.