The Church of Paraskeva Friday in Veliky Novgorod is part of the architectural complex of Yaroslav's Court. It is a cross-domed, three-nave, four-pillar building with one dome and an apse. The church served as the patron of merchants in ancient Novgorod and is named after the great martyr Paraskeva Friday, the patroness of Novgorod merchants. Fridays were also days of work for the Novgorod marketplace. The first wooden church on this site was built in 1156 by foreign merchants trading abroad. In 1191, Konstantin and his brother erected a new wooden church, and in 1207, the construction of the stone church, also built by foreign merchants, was completed.

The church has undergone several reconstructions. In 1345, it was damaged by fire and was significantly rebuilt. In the 16th century, Moscow merchants also made changes to its appearance. Despite numerous alterations, the exterior of the church has been preserved well enough to represent its original appearance.

The modern look of the building was acquired after restoration, during which many of its ancient forms were revealed. The restoration lasted almost 50 years, starting in 1954 and finishing in recent times. Currently, the church houses a museum of the history of Novgorod architecture. The church is a cross-shaped structure with six pillars, four of which are round, which is unusual for Novgorod architecture. The church has one apse. Attached to the main volume of the church are lowered narthexes and porches, of which only the northern one has survived, while only fragments of the other two remain, restored by restorers.

Some elements of the building, such as the shape of the apse and the pilasters at the corner of the northern porch, resemble the architecture of ancient Smolensk. Research has shown that the Novgorod Church of Paraskeva Friday generally reproduces the appearance of the famous Smolensk church from the late 12th century, the Archangel Michael in Semyadina. This indicates extensive trade and cultural ties between Novgorod and major centers of Ancient Rus. The scientific correlation of the Novgorod church with the Smolensk one suggests that its upper part, which underwent reconstructions, once corresponded to the Smolensk original. Documents contain 15 mentions of fires in the church and its restoration at different times. The modern appearance of the church was achieved thanks to post-war restoration. Sections of masonry from the 13th and 16th centuries were uncovered, while the dome from the 18th century was left unchanged. Today, the Church of Paraskeva Friday is a museum object.