The monastery was built by the local lord Vukašin and his wife Vukosava at the end of the 14th and the beginning of the 15th century. Its painting was created between 1402 and 1405 at the expense of the Despot of Serbia
Stefan Lazarević. The monastery church, dedicated to
St. Elijah, has a compact trikonchos base and is in the
Morava architectural style. In 1881, Rudenica was mentioned as "a small church in which there is no western influence". During the following centuries, the church was demolished and abandoned. Securing the monastery church against landslides from the surrounding hills was carried out during 1929–1931. The monastery was rebuilt in 1936, and on the initiative of
Bishop Nikolaj, it was consecrated on Elijah day of that year. In 1940, the monk Kalist Milunović settled there in a half-ruined residence. Nun Aquilina from Ljubostinje monastery (cousin of Bishop Nikolaj of Žica) arrived with him, along with a novice, who became nun Evgenia. Varvara Pantelić was the
abbess of this monastery from 1950 to 2016. Works on the protection of her paintings were done in 1971, while her architecture was preserved in 1996. Today it is under the protection of the
Republic of Serbia, as a cultural monument of great importance. == Architecture ==