The monastery of encarnación is one of the largest functioning monasteries of Spain, located in Madrid. The encarnación monastery was founded in 1611 by Queen Margaret of Austria, wife of Philip III, which provided comprehensive assistance to its construction.

The monastery was built in the period from 1611 to 1616, the year by court architect Alberto de La Madre Dios. The building was erected on land previously occupied by the house of the Marquis de Pozas purchased from them by the king. In the construction of the main facade, in the style of arberesh, use of brick and stone slabs. The facade is decorated with the shield of Queen Margaret and the relief image of the Annunciation, made of marble. Start of construction was marked by a solemn ceremony, on which was laid the first stone of the building by the king with the blessing of Archbishop. Unfortunately, the Queen did not wait for the end of the construction of the monastery – after 3 days from the start of construction she died.

The building's interiors have been substantially altered by the architect Ventura rodríguez after the fire that occurred at the monastery in the 18th century. The talented architect, introduced into the interior of the monastery of the elements of Neoclassicism, adding original altar decoration and painting. The interior of the Church is also decorated with paintings made by Luca Giordano, the work of Francisco Bayeu, gorgeous tiles, and sculptures of Gregorio Fernades and a fine collection of paintings, paintings by josé de Ribera and Vincenzo Carducci.

In reliquaries relics of saints, and the vessel with dried drops of blood of St. Panteleimon. Every year, on July 27, the day of death of the Saint, the blood becomes liquid, and if one day this does not happen, then, according to legend, Madrid expect terrible trouble.

In 1965, the monastery was opened to visitors.