It dates from the ruling era of Djuradj Balšić. It was founded in 1377 by Father Makarije who lived on the island as an ascetic.
The complex of monasteries consists of the church dedicated to the Holy Mother of God, monastery facilities, the wall with a gate and several terraces. The monastery was a centre for scribing activities. The famous printer of the time Božidar Vuković Podgoričanin was buried in this monastery. With the reconstruction of a part of the sleeping quarters and with having ensured living conditions the Starcevo Monastery is now inhabited and operational.