On 6 May 1992, a Synod took place at the Monastery in which three members of the Athonite community – the Abbot of the Exarchia Monstery, the Committee for the Sanctity of Communal Life, and the Pantakratoras Council of the Elders – participated. There, they jointly decided to restore the Monastery, which was the last of the Athonite monastery to function in an idiorhythmic state – to the system of cenobitic life.
Moreover, the Council of Elders unanimously decided to reorganize the Monastery under the guidance of a 13-member group of monks from the Zenofontos Monastery. The first Prior of the new Pantokratoros community was the hieromonk Bessarion (Makrygiannis) from Zenofontos Monastery, who was enthroned by the Sacred Community on 8 June 1992, the Sunday on which the feast of All Saints is celebrated. According to tradition, he received the ecumenical sceptre from the highest ranking member of the five-member Committee for Holy Communal Life: The Elder Bartholomew, a monk from the Great Lavra Monastery, who held the position as heir to Athanasios the Athonite, the founder of the first cenobitic monastery on Agios Oros.
During the time that the Prior Bessarion led the Monastery (19 May 1992-15 July 2001 or, in the Julian calendar used by the Athonite community, the respective dates would be the 6 May 1992-2 July 2001), it was reorganized and spiritually renewed, while work to renovate a large number of the buildings was undertaken. In order to accomplish this goal, he was awarded the title of new patron of the Monastery. Unfortunately, his successful work was unexpectedly ended by a serious illness which caused him to be bedridden; this condition led him to resign his position as Prior on 2 July 2001. He died several months later, on 20 September of the same year, leaving behind the reputation of having been a virtuous man. His funeral took place the next day, attended by a large number of clerics, monks and laymen, in an atmosphere of mourning for his premature death, but also one of joy and hope for his resurrection.
A Pantokratoros hieromonk, Gabriel, was appointed to replace the late Prior Bessarion. Under Gabriel's leadership, the Monastery flourished, evidenced by an increase in the number of its members, and the completion of the renovations to the old wings of the buildings in the Monastery compound. Today, the brotherhood has about 30 members.
