In the second half of the 19th century, the village of Olym was established, initially belonging to the parish of the village of Nikolaevka (Ofrosimovo). On May 25, 1892, at a village meeting, the peasants decided to arrange a cemetery and build a church for conducting the Liturgy during funerals. On November 1, 1892, the Holy Governing Synod granted permission to open the cemetery and construct a stone chapel with an altar. Construction began in 1893 and was funded by donations, completing in 1904. The first priest was Nikolai Oskocensky. Next to the church was a zemstvo school.

The church was closed in July 1934, and the building was used for storing grain belonging to the Sukovkin winery. In March 1935, the grain was removed, and the faithful requested the church to be reopened, but their request was denied. In 1936-1937, the church was handed over to the community of believers in the village of Olym.

Worship resumed in 1937 and has not ceased since. By a resolution of the cult commission of the Presidium of the Kursk Regional Executive Committee on December 30, 1940, the church 'Burning Bush' was planned to be closed, but this did not happen, likely due to the onset of war. As of August 1, 1940, there was only one functioning church in the Kastorensky district, 'Burning Bush' in the village of Olym. Services continued even during wartime. On April 11, 1944, an agreement was signed transferring the stone building of the church to the believers for indefinite and free use.

On December 22, 1991, according to the RSFSR Law of October 25, 1990 'On Freedom of Conscience', the Orthodox parish of the church 'Burning Bush' of the Kursk Diocese of the Russian Orthodox Church (Moscow Patriarchate) was registered in the village of Olym. On December 22, 1999, the Orthodox parish 'Burning Bush' was registered. On October 30, 1998, by the decree of the Governor of the Kursk region No. 566, the church in the village of Olym was placed under protection as a monument of cult architecture of regional significance.