Teodor Krachun was born at Sremska Kamenica in 1730. His original surname was Dimitrijević, but later the nickname "Kračun" stuck. He studied art under Dimitrije Bačević, a well-known Serbian icon and portrait painter, before taking monastic vows and entering the Vienna Academy in 1769. During his lifetime Kračun produced numerous icons and altarpieces that are still extant today in Serbian Orthodox and Roman Catholic churches and cathedrals throughout the Serbian province of Vojvodina, and the Banat of both Romania and Serbia.

The acknowledged master of the Baroque period, considered the first great modern Serbian painter, was Teodor Kračun. His contemporaries were Dimitrije Popović, another student of Dimitrije Bačević, Jakov Orfelin, and others. Kračun died at Sremski Karlovci on the 10th of April 1781. Teodor Dimitrijević Kračun is considered the most renowned of the Baroque and Rococo painting style in North Serbia.