The icon was originally placed in the pier (in greek called “Arsanas”) of the Holy Monastery of Esphigmenou. From there it took the nickname "Arsaniotissa". Today it is located in the Katholikon of the monastery, where it was transferred after the miracle of December 6, 1892.
The Virgin Mary is represented in accordance with the iconographic type of Theotokos Hodegetria. Jesus Christ sits on her left hand, while her right hand is steady in front of her breast. The Divine Infant holds a closed scroll and blesses the faithful. Her vestment is colored in deep red, while it is decorated with golden details and three shining stars. The vestment of Jesus Christ has earthly and gold colors.
According to tradition, one night when it was raining heavily, there was a big landslide. Huge stones fell and destroyed the buildings of the dock. A fisherman from Ierissos, had fallen asleep right on the pier, in front of the icon of the Virgin Mary. After the landslide and the destruction that was caused, the only part that remained untouched was the wall that was protected by the shrine. As soon as the monks moved the icon, this last part collapsed. The fisherman was not injured, as he had been miraculously moved several meters away from the great landslide.
This great miracle of the Theotokos Arsaniotissa makes the icon one of the most important relics of the Holy Monastery of Esphigmenou.