According to various historical sources, the monastery was in continuous use from the early 17th century until 1960, when the last of its monks died. In April 1676, Vossakos became a Patriarchical monastery (i.e. stauropegic), proclaimed by an act ("sigillion") of Ecumenical Patriarch Parthenius IV. The monastery played an important role in the greater area of Mylopotamos and owned many pieces of land as well as establishments in the nearby villages of Sisses, Garazo and Dafnedes. It also contributed to the Greek Revolution of Independence in 1821 and the Cretan Revolution of 1866. This involvement resulted in the monastery being partially destroyed by the Turks. Later in the 19th century, the monastery was rebuilt through significant construction activities. The current main church (katholikon) was built in 1855, replacing an earlier one dating from the 14th and 15th centuries. The church is devoted to the Holy Cross () and celebrates on September 14 each year.