The stone church in honor of the Holy Life-Giving Trinity, known as the Trinity-Basil Church, was laid in 1743 and completed in 1751 thanks to the efforts of Oryol merchant Nikolai Vasilyevich Kuznetsov and the parishioners. The church has two floors: a warm lower floor and a cold upper floor. Initially, it had three altars: on the upper floor, in honor of the Holy Trinity, on the lower floor, of St. Basil the Great, and in the right chapel, of St. Nikita.

The stone bell tower was built in 1802. In 1867, the church was expanded with funds from merchant Enfimy Semyonovich Shelkov, adding two-story extensions on both sides. In 1881, a brick fence with an iron grille was erected around the church. On September 3, 1872, Archpriest Ioann consecrated the chapel in honor of St. Tikhon of Zadonsk in the upper church, and on July 5, 1880, Archpriest Alexander Pavlovsky consecrated the chapel in honor of the Icon of the Mother of God “The Seeking of the Lost.” In the 1880s, a chapel in the lower church in honor of St. Barbara the Great Martyr was consecrated, with the iconostasis made with funds from Pavel Ivanovich Afanasyev. By the end of the century, the church had become two-story and six-altared, the only one in Oryol.

In 1896, a major renovation was carried out, during which the crosses and domes were gilded, and the upper tier of the bell tower was rebuilt. In 1899-1900, the lower church was updated: the walls and ceilings were painted, and four ventilation stoves were installed. The work was carried out by contractors Kosma Egorovich Ovechkin, Pyotr Pavlovich Abashin, and P. M. Timorin. The bell tower had eight bells, one of which, weighing 318 poods, was purchased in 1849.

The iconostases were replaced, and places for icons were created in the passage arches. On the right side were icons of the Savior, the Mother of God “Passion-Bearer,” John the Baptist, and the Great Martyr Panteleimon. On the left side, the Holy Trinity, the Mother of God “The Seeking of the Lost,” St. Tikhon of Zadonsk, and Theodosius of Chernigov. Two new canopies for the icons of the “Milk-Giver” and St. Tikhon of Kaluga were installed, as well as kiots for the icons of the Mother of God “Sorrowful” and the three hierarchs, Basil the Great, Gregory the Theologian, and John Chrysostom. The icons of the Holy Trinity, the Mother of God “The Seeking of the Lost,” and St. Tikhon of Kaluga were especially venerated. It is known that many received healing after prayers at these icons.

In the 1920s, the church temporarily belonged to the Renovationists but was closed due to the lack of a parish. In the 1930s, it lost the upper tiers of the bell tower and the dome, which was restored in 1989. From 1951, the building was used for other purposes: it housed the regional DOSAAF committee, and from 1972, a city technical club. In the late 1990s, the building was rented by the organization LLC “Behind the Wheel.”

On July 6, 1993, the church building was recognized as a monument of regional significance. On June 24, 1999, it was transferred to the Oryol-Liven Diocese, with Archpriest Sergey (Kryuchkov S.Yu.) becoming the rector. The first service took place on July 21, 1999. On February 12, 2000, Archbishop Paisiy of Oryol and Livny consecrated the altar of St. Basil the Great. The church is currently active, services are held, and a Sunday school operates. Restoration work continues thanks to the support of parishioners and organizations in Oryol. In the 2010s, the church was painted by artist Smorodinov.