Its entrance is on the left slope of the valley of the river Chukura, a tributary of the Chepinska reka.

[2][5] The first expeditions to Lepenitsa date to 1925–1927, when it was explored by the Bulgarian zoologist Ivan Buresh, director of the then Royal Museum of Natural History in Sofia.

In 1930 citizens of Rakitovo established the first branch of the Bulgarian Speleological Society outside Sofia in order to explore Lepenitsa and the surrounding caves.

The middle level is dry, with many cave formations, including stalactites, stalagmites and draperies, as well as two permanent and two temporary sinter lakes.

[4][5] Lepenitsa has a rich fauna with 24 registered species, including three endemic to the cave: Duvalius bureschi, Troglohyfantes drenskii and Anamastigona lepenicae.