The Monastery of Rezevici is situated on a picturesque hillside, not far from the sea, near Petrovac, and in the immediate vicinity of the famous tourist complex Sveti Stefan. According to tradition, pagan temples and ancient graves existed here, some of which can still be seen. The Serbian king Stefan the First-Crowned spent some time in the Rezevici. He built the church of the Dormition of the Mother of God, consecrated in 1223. Emperor Dusan erected the Church of the Archdeacon Stefan, consecrated in 1351, and on that occasion he presented the Pastrovici with his famous Law Codex, which they used at the councils at Drobni Pijesak, and when they made decisions upon the Sudino Brdo (The Hill of Judgment). The monastery of Rezevici was also mentioned in an inscription on an icon from 1423, painted by Hieromonk Nikodim. In one document from 1612, in which the farmers of the Soljaga Brotherhood offered some cultivated land to the monastery, the church of the Dormition and the Monastery are referred to. Until the first half of the 19th century there used to be here, by the road, a stone column with a hollow recess where citizens of the nearby villages used to put a bowl of wine as a sign of hospitality towards the passers-by. It is said that Raymond of Toulouse, with his crusaders, drank wine from this bowl.
The monastery of Rezevici has throughout its long history often been robbed and destroyed, especially by the Turkish army in 1705 and 1785. The French plundered it in 1812 because of the covenant of the Pastrovici with the Prince Bishop of Montenegro Petar I Petrovic Njegos, who launched a campaign for the liberation of the Gulf of Kotor and the Montenegrin Coastland from French occupation.
The earthquake of April 1979 which struck Montenegro did not spare this unique architectural complex. The buildings suffered considerable damage. Many persons have been responsible for renovations of the monastery complex, especially abbot Maksim Kosijerevac in the 18th century, and later abbot Nikodim Vukovic, archimandrite Dimitrije Perazic. In recent years, during the time of the Metropolitan Danilo of Montenegro, credit for the renovation belongs to the Institute for the Preservation of Cultural Monuments at Cetinje, and to the present abbot Mardarije Sisovic, who have carried out considerable reconstruction of the refectory and the monastery churches.