The old church of Panagia, a building of architectural interest, is located approximately in the center of Deryneia.
It originally was of a small size with a Byzantine dome. It was built in the late 15th or early 16th century.
As it could not serve the purposes of a growing community it had to be extended to the west and south with two new rooms for service.
On a plaque on the wall of the Solar it is stated that the work was completed in January 1727. On the inside the church is decorated with a beautiful wooden carved iconostasis made in 1911. It comprises ancient icons dating back to the 18th century and presumably older.