The Church of the Ascension of the Lord on Bolshaya Nikitskaya, known since the early 1830s as "Small Ascension" to distinguish it from "Large Ascension" at Nikitskiye Gates, is located in the center of Moscow, near the Kremlin. Since the 14th century, this road led to Volokolamsk and further northwest to Veliky Novgorod. In this affluent settlement lived Novgorod merchants and traders from Veliky Ustyug, who likely built the wooden Ascension Church.

The first mention of the church dates back to 1548 in the Illustrated Chronicle of Ivan the Terrible. In 1547, the patron saints of Veliky Ustyug, Procopius and John, were canonized. The southern chapel of the church, consecrated in honor of Procopius of Ustyug, is first mentioned in 1680. Archaeological studies suggest that it may have been a separate church, later connected to the Ascension Church.

The stone church was built by Tsar Fyodor Ioannovich in memory of his coronation in 1584. After the Time of Troubles, the church became a symbol of the spiritual continuity of two royal dynasties. The boyars Romanov, relatives of Tsar Fyodor, owned lands near the church. Nikita Romanovich Zakharin, brother of Tsarina Anastasia, built the nearby Nikitsky Monastery, which gave its name to the street.

Patriarch Filaret, the father of Mikhail Romanov, lived near the church after returning from captivity, and the church may have been honored with patriarchal services. Among the notable parishioners was Ivan Fyodorovich Romodanovsky, the Governor-General of Moscow, and his wife Anastasia Fyodorovna. In the 19th century, many famous people visited the church, including Countess E. R. Vorontsova-Dashkova and possibly A. S. Pushkin.

In the late 19th century, the church's rector, Archpriest Gavriil Sretensky, actively supported the Japanese mission of Archbishop Nikolai. After 1917, the church continued to operate until the 1930s when its bells were removed. In 1937, the church was closed and reconstructed, losing its interior decoration.

In 1992, the church was returned to the Russian Orthodox Church. The restoration was led by Archpriest Gennady Ogryzkov, who involved creative intelligentsia in the work. The frescoes were done by Ivan Glazunov, Irina Starzhenetskaya, and Dmitry Alimov. The iconostasis was created by Sergey Fedorov, and several icons were painted by Evgeny Mamikonyan. Relief compositions by Anatoly Komelin are placed on the walls of the church.

The external appearance of the church has changed over the centuries. In the 17th century, the southern Procopius and northern chapels were consecrated. In the 18th century, the tents were replaced with an octagon. The cross with a crown and a finial was restored in 1992.

Today, the church houses Orthodox relics and icons. The church choir consists of professional musicians. In 2015, a unique icon of the patron saints of musicians and poets appeared. In 2018, restoration work was carried out on the facades and roof of the church.