The history of the village of Krasnoe (Krasny Kolodez) is inextricably linked to the Church of the Prophet Elijah. It is impossible to determine a period when Krasnoe existed without this church. In a letter from the rector of the Trinity Cathedral in the city of Olshansk to the church authorities in 1660, it is mentioned: "In the city of Olshansk, there are three churches; last year there were four, but the parish along with the Elijah church has moved." Although the name of the village is not specified, it is highly likely that it refers to Krasnoe.

In the Olshansk district, there was no other settlement with an Elijah church besides Krasnoe. The first documented mention of the Church of the Prophet Elijah dates back to 1710. The document states: "The village of Krasny Kolodez, in it a church in the name of Saint Prophet Elijah. At that church, in the yard, priest Stepan Fyodorov, 50 years old, and in the second yard, priest Fyodor Stepanov, 27 years old." The presence of two priests indicates two church staffs due to the large number of parishioners, including residents of the village of Polnikov. The first church likely existed until 1775, when a new wooden church with a bell tower was built.

The current stone church was erected in 1842 with funds from parishioners, including residents of the village of Krasnoe and the hamlet of Kiselevka. At that time, there were 2,903 people, and the church was allocated 36 desyatins of land.

In the 1930s, the church was closed, the rector was repressed, the community was dissolved, and the question of demolishing the building was discussed. As a result, the stone bell tower and the right chapel were destroyed, and the vaults were replaced with a flat ceiling. The building was repurposed into a club and cinema, and a stage was set up in the altar after the iconostasis was destroyed.

In 1991, the church building was returned to the believers. For more than ten years, restoration work was carried out, during which the stone bell tower was rebuilt, exterior finishing was done, and the interior decoration of the church was restored.

On August 2, 2007, on the day of Elijah, the restored church was consecrated by Archbishop (now Metropolitan) John of Belgorod and Stary Oskol.