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Arethousa is a settlement of the Municipality of Volvi, in the eastern part of the Thessaloniki regional unit in Macedonia. In the 2011 census, it had 748 inhabitants. It is the seat of the municipal unit of the same name within the Municipality of Volvi, which also includes the settlement of Lefkouda. The village took its name from the goddess Arethousa, the Nymph of springs, since the village is supplied with water from eight natural springs. Ecclesiastically, it belongs to the Holy Metropolis of Serres and Nigrita.

Ancient Arethousa of Mygdonia, according to archaeological studies to date, is located in the area of Rentina (the Rentina Pass, also known as the Macedonian Tempi) up to the present-day community of Arethousa, about 10 km to the north. Two kilometers east of modern Arethousa, near the area locals call Paliokastro, a temple floor from the 6th century BC was recently uncovered.

Within a radius of three kilometers, many archaeological finds have been discovered, including coins from the Classical period as well as from Byzantine times. Up until the early Byzantine years, ancient Arethousa is located 10 kilometers south of the present community, near the River Richios.

The relocation of Arethousa to its current position, at the foothills of the Kerdylia mountains, took place during the Byzantine period due to repeated raids and destruction. For safety reasons, the inhabitants moved to a more mountainous and secure location, where the modern settlement of Arethousa is found today.