The Holy Icon of Panagia Elaiovritissa is dated to the 14th century and is located in the (Docheion) olive oil store of the Holy Monastery of Vatopedi. On the Friday of Bright Week (1st Friday after Easter) a procession of the Icon takes place from the olive oil store to the Katholicon of the Monastery, this is the days the Holy Icon is celebrated.According to tradition, the following Miracle is attributed to this Icon. In the time when Saint Gennadios was the keeper of the olive oil store, the Monastery suffered from a shortage of olive oil and Saint Gennadios only allowed for the olive oil to be used for the needs of the Church.
The cook of the Monastery protested this decision to the Abbot of the Monastery. The Abbot decided to make the olive oil available to all of the fathers and trusted in the providence of our Most Holy Theotokos to take care of the needs of the Monastery. A few days had passed at Saint Gennadios went to the olive oil store to distribute oil to various parts of the Monastery. When he opened the door, he noticed that the olive oil wells were so full that there was olive oil spilling from them onto the ground and had reached the door. From that point a beautiful fragrance came from the Icon which was placed in the room, this fragrance continues to this day.