The church was built in the Middle Ages during the Nemanjic dinasty. Namely, King Vladislav issued the Chart relating to this monastery between 1234 and 1243.
The Chart regulated obligations for those inhabitants dependinng on and dedicated to the monastery.
At the beginning of the 14th century Bistrica monastery was added to the holdings of the Sts. Peter and Paul Church as an appendage and later on it was granted to the Chilandar Monastery.
Like many other churches and monasteries the church was in ruins for ages and then restored in the 19th century.
It is a single – nave church covered with a two – pitched shingle roof. According to certain data, the people of this monastery people knew the beer making technology way back in the 18th century.
The church is located in Bistrica, 1km farfrom the highway Prijepolje – Nova Varoš.