According to tradition, the icon of the Mother of God "Herondissa" ("Elderly woman") was presented to the monastery by Emperor Alexios I Komnenos.
Her first miracle is associated with the construction of the first monastery, which was supposed to be located on a hill, five hundred meters away from the current site of the monastery. One evening, the icon of the Mother of God Herondissa, along with all the construction materials, miraculously moved to a cliff by the sea. Since this happened more than once, it became clear that it was the will of the Mother of God herself, wishing the monastery to be built precisely there.
Another miraculous relocation of the icon is well known. Initially it was kept in the altar part of the main church, behind the altar, but it was miraculously transferred to the northeastern column so that pilgrims could pray before it.
This miraculous icon was named "The Abbess" because of the particular protection and care granted to an elderly monk of the monastery. When God gave him a sign of the end of his days approaching, the old monk wished to receive communion and asked the hieromonk to conduct the divine liturgy in a shortened form. The latter did not heed the request and continued to celebrate the liturgy at a regular pace. At that moment, a voice of the Theotokos was heard from the icon, repeating the elderly monk's request. After receiving communion, the monk passed away.
In 1948, Elder Gerasimos Mikrayiannanitis wrote a service for chanting during the vigil on December 2, and in 1976, a canon for chanting every Monday.
The miraculous icon of the Pantokratoros Monastery depicts the Mother of God in full height, with the body turned to the left, in a gesture of blessing, acting as a mediator before Christ, according to the iconography type of the Mother of God Agioritissa (Protectress of Athos), or Paraklysis ("Intercessor"). This type of the Mother of God appears quite early and is reflected in various forms of art (frescoes, icons, bas-reliefs, etc.) throughout the Byzantine period of history.
The icon of the Mother of God Herondissa is located in the marble lectern of 1896. Since the painted part of the icon has not survived to this day in good condition, it was covered with a silver setting from Russia in the mid-19th century. The setting created with the funds of a family from Constantinople, left only the face and hands uncovered. The inscription at the top-left part of the icon, at the level of the Mother of God's shoulders, reads: "The miraculous icon of the Mother of God, long known as Herondissa of the Pantokratoros Monastery." At the feet of the Mother of God, on the left, a vessel emitting oil is depicted, thus recalling the miraculous intervention of the Mother of God Herondissa in the life of the monastery in the 17th century, when it lacked oil. This miracle is also depicted on an engraving from 1869, accompanied by a corresponding inscription.