Drakano is the third ancient town of Ikaria. Although its existence must have coincided historically with the other two ancient towns of Ikaria, it is not included in the lists of the Athenian League. That means either it was a part of Thermae's subscriptions, or it was exempted from taxes payment due to its defensive role. The origin of the name is either from the adjacent mountain, or from the cape next to which it was built. Nowadays, there are just few ruins of the ancient acropolis of the town. It was built during the Hellenistic period and the famous 10m high watch tower, which was repaired in the years of Dimitrios the "poliorkitis", was an ideal spot from which to observe the sea passage between Ikaria and Samos.
Next to the tower is the church of St. George, with its remote beach. The visitor can go there by following the dirt road from the village of Faros, and then through a footpath after a 15-minute walk.