The Transfiguration Church, built of stone in 1682 and consecrated in 1684, was erected thanks to the efforts of Izium colonels Konstantin Donts and Fyodor Shidlovsky. The temple is designed in the Byzantine style and has five domes supported by high pillars. In 1765, a majestic iconostasis adorned with gold and carvings was installed. From 1846 to 1866, the church was expanded with the funds of donors. At that time, the church had four altars: the main one in honor of the Transfiguration of the Lord, the second, in honor of Saint Great Martyr Demetrius of Thessalonica, the third, in honor of the Holy Prophet Elijah, and the fourth, in honor of Saint Anna.

In the mid-19th century, a warm church was built under a separate bell tower in honor of the Tikhvin Icon of the Mother of God. This was an expression of gratitude from the residents of Izium for being spared from cholera in 1831. Lieutenant Daniil Efimovich Zozulya, who collected 7,000 rubles in silver, merchant Yakov Ivanovich Dekhtyarev, who donated about 700 rubles, and landowner Fyodor Nikolaevich Durnov, who donated up to 628 rubles, actively participated in the construction of the chapel. The Tikhvin church was referred to as the 'warm' or 'regimental' church. In addition to Zozulya, other officers and soldiers of the hussar regiment also made donations.

The Tikhvin church differed from traditional church buildings and resembled a four-tiered tower. Instead of a cross, a long finial with a two-headed Russian eagle was placed on its dome. The church housed the banners of the Izium Cossack Sloboda regiment, which participated in the Battle of Poltava in 1709, as well as relics of the Izium Guard Hussar regiment, which fought against the French and was the first to enter Paris. These relics were later distributed to museums in Poltava, Leningrad, and Moscow.

The Transfiguration Church is considered one of the best examples of Ukrainian Baroque. Among the church utensils were gifts from Peter I, such as the altar Gospel of 1707 and a sacred vestment. According to legend, the tsar sent these gifts after his visit to Izium in 1709 before the Battle of Poltava. The church also housed Turkish insignia brought by Yakov Fyodorovich Dolgorukov after the conquest of Azov, reminding of Izium's participation in the Azov War.

On September 25, 1825, Alexander I prayed in the Transfiguration Church, and on January 5, 1826, prayers for his repose were held here. Until 1917, the cathedral was majestic and famous, but during the persecution of faith, many churches suffered, including the Transfiguration Cathedral. In the 1930s, services ceased, and in 1938, the chapel of the Tikhvin Icon was destroyed. The cathedral was desecrated and used as a warehouse. In 1941, during the retreat of Soviet troops, the bell tower was blown up.

In 1962, a decision was made to restore the church to its original form. Construction work lasted about 30 years, and the church was restored to the state it was built in 1682. The Transfiguration Church was returned to the Ukrainian Orthodox Church and consecrated on October 8, 1991. By the blessing of Metropolitan Nikodim, services resumed in the church, and it began to revive.