The stone church with a bell tower was built in the cemetery in the city of Shatsk in 1843. The funds for its construction were provided by merchants Sholokhov, Pyatakovsky, and Shulgin. In the 1930s, the church was closed, and it gradually fell into disrepair.

Thanks to the years of efforts by the residents of Shatsk, who sought to restore the shrine, on May 6, 2000, the feast day of Saint George the Victorious, Metropolitan Simon of Ryazan and Kasimov consecrated the Shatsk Assumption Church. Since then, regular services have been held in the church.

On November 27, 2009, the Shatsk District Duma decided to name the area in front of the church, from the gates of the Sunday market to the cemetery, "Assumption Square," and the cemetery itself, "Assumption Cemetery."

On July 30, 2009, a joyful event took place in the parish of the Assumption Church: by the blessing of Archbishop Pavel of Ryazan and Kasimov, an icon of the Mother of God "All-Holy Queen" was brought to the church. It was painted in the Novospassky Monastery in Moscow and consecrated before the icon "All-Holy Queen," which was brought in 1997 from the Vatopedi Monastery on Mount Athos. Now, every Sunday evening, akathist prayers and water blessings are performed before this icon.