The problem of localization of the “Parthenon Cave” reported by the “Lives of the Bishops of Cherson” has repeatedly been the subject of scientific research. As a result, many versions were made for scientific discussion in the opinion of their creators, which made it possible to determine its location. My research was conducted to analyze these hypotheses. Having studied the issue, I come to the conclusion that the data of the topography of Chersonesos—Cherson make it possible to most convincingly link the sought-after monument with the Martyrium with the underground crypt in quarter III in the eastern part of the city. The sanctuary that existed here a few dozen meters from the temenos Parthenon is possible from the end of the Hellenistic era or from the first centuries CE. In the 4th century. it was abandoned and in its place arose the economic complex of early Byzantine times. Then, after events unknown to us, most likely connected with the pious searches of townspeople by their Christian relics, it again became the place of worship of Christians who arranged their sacred places in return for pagan ones.