The prehistoric settlement at Petroto was discovered at the location known as “Asvestaria” during the construction of the nearby Larissa–Trikala highway, a few kilometers from the modern village of Petroto. Initially identified through rescue excavations, the site has since been investigated through systematic excavation, revealing an extensive habitation area comprising numerous structures and artefacts dating from the Late Neolithic to the Archaic and Roman periods. To date, excavations have uncovered multiple buildings, alleyways, and human burials, primarily dating to the Bronze Age, more specifically from the Early Helladic II to the Late Helladic IIIC periods (ca. 3200–1100 BC), with the latter being more extensively represented.

The Bronze Age finds include a rich assemblage of material culture, such as pottery, anthropomorphic and zoomorphic figurines, metal objects, loom weights, bone artefacts, and lithic tools, alongside human skeletal remains and other bioarchaeological evidence, including terrestrial and marine faunal remains and charred seeds. Certain types of ceramic vessels and decorative motifs suggest connections with other Mycenaean centers in the wider region and southern Greece. Moreover, the discovery of an animal burial reveals a ritual dimension of life at the settlement.

Each excavation season yields further insights into intra-communal organization, shedding light on the social, economic, and political structures and interactions at Petroto throughout the Early, Middle, and Late Bronze Age, while also illuminating a previously under explored Late Helladic landscape in western Thessaly, often regarded as a peripheral zone of the Mycenaean world.