The Assumption Church, built of wood along with a bell tower, was erected in 1904 thanks to city funds and donations from residents. It housed three altars: the main one in honor of the Assumption of the Mother of God, as well as side altars dedicated to Saint Nicholas of Myra, Equal-to-the-Apostles Prince Vladimir, and James, the Lord's brother. The clergy included a priest, a deacon, and a psalmist. A parish school operated at the church. In early September 1915, a sisterhood was established at the church to support the families of participants in World War I. After the 1917 revolution, the church was closed, and in 1968 it was completely destroyed by fire.

In 2007, with the blessing of Bishop Longin of Saratov and Volsk, the Assumption Parish was revived in Volsk, and permission was granted to build a new church. On September 5, 2008, the dean of the Volsk district, Archpriest Alexey Zemtsov, consecrated the site for the construction of the Assumption Church of the Blessed Virgin Mary in the Bolshevik microdistrict of Volsk.

In 2012, a temporary church in honor of the Assumption of the Blessed Virgin Mary was established near the future construction site, where the first Divine Liturgy took place in August of the same year. In 2015, the construction of the new church building began.

On May 9, 2016, with the blessing of Metropolitan Longin of Saratov and Volsk, the dean of the Volsk district, Archpriest Ilya Kuznetsov, along with the clergy, conducted the Rite of the Foundation of the church. On October 21, 2016, he consecrated the domes and bells for the building church.

On April 8, 2017, with the blessing of Metropolitan Longin, Archpriest Ilya Kuznetsov, in the presence of the clergy, conducted the Rite of the Placement of the Antimension and the first Divine Liturgy in the newly built church. On November 18, 2017, the Great Consecration of the church and the Divine Liturgy took place in the newly consecrated church.