On the high and rocky left bank of the Zusha River, at the site of the former Small Ostrog of the Mtsensk Fortress, stands a church. In the 16th and 17th centuries, it was the cathedral church of the male Peter Monastery, one of the oldest in the Oryol region. According to legend, the monastery was founded in the 12th century, but it is more likely that this occurred in the early 16th century when Mtsensk became part of the Moscow state in 1500.

According to the land survey book of Mtsensk from 1625, there were two wooden churches in the Peter Monastery: the churches of Peter and Paul and the Introduction of the Most Holy Theotokos with the chapel of the Prophet Elijah, renovated with the funds of the first tsar from the Romanov dynasty, Mikhail Fyodorovich. Next to the churches were the cells where the abbot and monks lived. In the 1670s, the nobleman S. V. Ragozin built a stone seven-domed cathedral church of the Introduction of the Most Holy Theotokos with three altars: the Introduction of the Theotokos, Saints Peter and Paul, and the Holy Prophet Elijah. It is likely that at this time the second wooden monastery church was dismantled. In 1694, the Peter Monastery was relocated to a new site downstream of the Zusha, where it continued to exist under the name of the Peter and Paul Monastery, and the Introduction Church became a parish church. The bell tower was built at the turn of the 18th and 19th centuries. Before World War I, there were plans to create a skete at the Introduction Church, affiliated with the Peter and Paul Monastery, but these plans were not realized.

The church was closed in the 1930s, and during the occupation of Mtsensk, the Germans used it as a stable. It reopened after the Great Patriotic War in 1947. Four white stone gravestones from the first half of the 16th and mid-17th centuries, discovered by art historian T. A. Timasheva, have been preserved in the churchyard. One of the stones contains the inscription: "In the year 7164 (1656), on the 18th day of January, the servant of God Ivan Stepanovich Ragozin passed away in the monastic order as a schemamonk Iev."