[3] As with the other Zagori villages, Monodendri enjoyed an extended period of commercial and economic prosperity during the 17th and 18th centuries.

[5] In the Scholarcheion also taught the renowned Neophytos Dotos (1814–18) and Anastasios Sakellarios from 1825 to 1830, when he left to direct the new Zosimaia School in Ioannina.

Monodendri was the birthplace of the merchants, national benefactors and brothers Manthos and Georgios Rizaris, and of Angelos Kitsos (former president of the Rizarios Foundation).

The amphitheatrically built stone theater, in the village end, is used for cultural festivals during the summer months.

The monastery was founded in 1412 by Michael Voevodas Therianos and the people of Vitsa, as stated on an inscription,[8] during the reign of Carlo I Tocco.