The oldest geologic formations outcropping in Milos are an Alpine age crystalline basement and a transgressive marine Neogene sequence. The island is mainly volcanic. The volcanic products belong to the calc-alkaline suite characteristic of island arcs, with composition varying between basaltic andesites (rare) to rhyolites. There are no large central volcanic edifices but different, frequently coeval eruption centres. The initial and intermediate phases of activity were mainly pyroclastic and submarine, whereas the last one was subaerial. Recent detailed studies have addressed the mechanism of feeding and the type of magmatic chambers beneath Milos. The geological, tectonic and magmatic activity favoured the formation of a high enthalpy geothermal field. Many fossil and active thermal manifestations exist: hot springs, fumaroles, hot grounds, phreatic explosion craters. The hydrothermal alteration of the volcanites produced, by self sealing, a perfect cover for the geothermal fluids. Additional aspects of the subject are discussed.