Katakolo is built over the ruins of Pheia. The port of Olympia and Pissa in antiquity. Pheia is mentioned by Homer, Thucydidcs, Strabo and Pausanias. It was used by the Athenian fleet during the Peloponnesian war.
The port was submerged after a devastating earthquake in the 6th century AD. The ruins of Pondikokatro (mouse castle) are to the NW of Katakolo, on the bay of Aghios Andreas. It used to be a fortress built by the Villeharduins. Among the buildings materials used were parts of the ancient port of Pheia.