The Ascension Cathedral in Stary Oskol, built in the second half of the 19th century, is an architectural monument in the eclectic style. Its construction began in 1870 under the guidance of peasant Sergey Efimovich Simonov, and the consecration took place on May 1, 1882. The right chapel is dedicated to Archangel Michael, while the left is dedicated to the Great Martyr and Healer Panteleimon.

Before the revolution, two zemstvo schools operated in the parish, and there was a church-parish school, the building of which has survived to this day. During the Soviet era, it housed school No. 10.

From 1938, the church building was used as a grain storage facility. Appeals from believers regarding the unlawful actions of the authorities reached the Supreme Soviet of the RSFSR. On October 11, 1938, the district executive committee of Stary Oskol decided to free the church building from grain and return it to the believers.

A report from the district executive committee in September 1940 indicated that the church of the Cossack settlement was not functioning. From July 1942, the Ascension Cathedral reopened.

In November 1961, the church was closed again and converted into workshops. According to local residents' memories, a goods warehouse was located here for some time, and the relics were destroyed. After the warehouse was dismantled, the building remained abandoned and fell into disrepair for twenty years.

In 1987, the authorities decided to restore the building and open an ethnography museum in it. However, thanks to the efforts of Archbishop Juvenaly (Tarasov) of Kursk and Belgorod, the church was reopened in 1988 and handed over to the religious community.

The church was in a deplorable state, but services and restoration work began. New decorative grilles were installed, and by the end of the 1980s, a carved wooden iconostasis and wall paintings were completed.

On August 29, 1988, the first service took place on the porch under the guidance of Bishop Juvenaly, and on September 28 of the same year, the church was consecrated. In 2011, new domes were installed on the church.