During the eighteenth century, both Grebo's and neighbouring Värna's medieval churches had fallen into disrepair. Rather than rebuild both, the parish chose to restore Värna and construct an entirely new church at Grebo, completed in 1773. The old medieval church was left to decay nearby, and its ruin can still be seen next to the present building.
The church consists of a single-nave hall with a straight-ended chancel to the east and a tower to the west, with a sacristy attached to the north side of the chancel. Inside, the nave is covered by a wooden barrel vault, giving the interior a plain but harmonious character typical of the period.
Many of the church's furnishings were gifts from surrounding farms and estates. The altarpiece, painted and donated by the artist Johan Stålbom (who died at nearby Orräng in 1777), depicts the Crucifixion with Mary and John flanking Christ. Curiously, the composition is mirror-reversed: Mary and John stand on the wrong sides compared with convention, and even the wound in Christ's side and the tilt of his head appear reversed. A medieval triumphal crucifix, surviving from the earlier church, and a font dated 1686 are among the older furnishings retained from Grebo's previous place of worship.
The pulpit dates from 1779–1783, the work of a painter named Wickman. The church's organ has a layered history: an earlier instrument from the 1780s by Pehr Schiörlin was later given an independent pedal division in the nineteenth century, before being superseded by a new pneumatic organ built in 1926, which reused the older instrument's façade.
Archaeological finds near the church point to a much older story in the area: one of Östergötland's richest graves from the late Roman Iron Age was discovered nearby, containing weapons, a gold finger ring and Roman bronze vessels, now held in the Swedish History Museum.