The Carahunge site is at latitude 39° 34' longitude 46° 01' on a mountain plateau at an altitude of 1,770 metres (5,810 ft) and occupies an area of about 7 hectares on the left side of the canyon of the River Dar, a tributary of the river Vorotan (at 2 km). It is located on a rocky promontory near Sisian. The Carahunge monument consists of the central circle, the north arm, the south arm, the N–E alley, the chord (crossing the circle) and separate standing stones.

The site is rich with stone settings, burial cists and standing stones (menhirs). In total, 223 stones have been identified.

The heights (above ground) of the stones range from 0.5 to 3 m and they weigh up to 10 tons. They are basalt (andesite) stones, eroded by time and covered with moss and lichen of many colors. The inner surface of the holes is much better preserved. There are also many broken and unnumbered stones.

About 80 of the stones feature a circular hole, although only 37 of the stones, with 47 holes, are still standing. They have been of interest to Russian and Armenian archaeoastronomers who have suggested that the standing stones could have been used for astronomical observation. Seventeen of the stones were associated with observations of sunrise or sunset at the solstices and equinoxes, and 14 with the lunar extremes. However, this must remain conjectural as the holes are relatively unweathered and may not even be prehistoric in origin.