Based on legends preserved, monastery was founded in the late XV ct by Raka Milosevic, Great Chamberlain of Despot Jovan Brankovic. According to him, the monastery is named. The monastery church was built in Rakovac in 1533. Numerous accounts indicate that the monastery was repeatedly destroyed, abandoned, and then rebuilt again and again. In the Second World War, the monastery suffered greatly. The bell tower was dynamited and brought down to the height of the first floor of the chapel, the church interior was completely demolished, and the rich iconostasis burned. Suffered the greatest destruction of the buildings monastery shelters, whose restoration to date performed only partially on the north side. During the 1958 – 59 The Regional Institute for Protection of Cultural Monuments reconstructed the church building.