Located within the complex of the Makarios Cultural Foundation, this museum has the island's largest collection of icons related to Cyprus. There are some 220 pieces in the museum, dating from the 5th to the 19th centuries.

Among the more interesting items on display are the icons of Christ & the Virgin Mary (12th century) from the Church of the Virgin Mary of Arakas at Lagoudera, and the Resurrection (13th century) from the Church of St John Lambadistis Monastery at Kalopanayiotis. In addition, there are six examples of the Kanakaria Mosaics, which were stolen from the Panagia Kanakaria (Kanakaria Church) in Northern Cyprus after the 1974 Turkish invasion.