This temple was built for the Egyptian merchants. It was located on the Commercial Agora near the western gate. There is also another entrance into the temple from the south-west corner of the Agora through stairs.
There are certain indications that suggest the temple was never finished fully. It is estimated that the construction of the temple was started in the 2nd century A.D.
There is a statue found inside the temple made by using the Egyptian granite. Also some inscriptions found inside the temple indicate that the temple was constructed for those who believe in Serapis. In Ephesus Museum there is a monument on which the main Goddess of Ephesians, Artemis, and the principal god of Egypt, Serapis, take place together with garland as a symbol of peace.
It is well documented fact that Ephesus had a very strong commercial link with the influential port city of Egypt, Alexandria. During these ancient times Egypt was the biggest producer of wheat. They exchanged wheat with other commercial items from Ephesus and other Ionian cities.
It was converted to a church during the following Christian period. There are remains of a baptisterium in the eastern corner of the temple.