The construction of the new cathedral began at the initiative of Metropolitan Savvaty on the site of an old one-story building that had fallen into disrepair. Although Savvaty raised funds, the construction fell to his successor, Metropolitan Samson. Work began in 1697 under the guidance of architect Dorofey Myakyshev, a peasant by origin. The cathedral was built as a two-story structure: the lower church was consecrated in 1708 in honor of the Vladimir Icon of the Mother of God, and the upper one in 1710 in honor of the Assumption of the Blessed Virgin Mary. The lower church had chapels dedicated to Saints Athanasius and Cyril, Patriarchs of Alexandria, as well as Saints Platon and Peter of Athos, later renamed in honor of the Equal-to-the-Apostles Cyril and Methodius.

In 1928, the Assumption Cathedral was closed, and various Soviet institutions were placed in its premises. In 1992, the cathedral was returned to the Church. Until 1923, it was considered the cathedral of the diocesan cathedral. The Prechisten Bell Tower is located next to the cathedral, the third on this site. The first was built in 1710, and the current one was erected in 1910 according to the design of architect S.I. Karyagin.

After the 1917 revolution, many Russian churches, including the Assumption Cathedral in Astrakhan, faced difficulties. Valuables were removed from the cathedral and then handed over to the Renovationists, who did not care for its condition. In a 1928 report on the state of churches in Astrakhan, it was noted that the cathedral represented immense museum value but needed maintenance, which the community could not afford. The demolition of the building was even discussed, but this decision was reconsidered, and the cathedral was 'adapted': an archive was placed in the lower church, and a gym in the upper one. The fate of the iconostasis arose, which was planned to be dismantled for the removal of the gilding. The Lower Volga Museum objected, calling the cathedral and its iconostasis outstanding examples of Moscow Baroque. However, the iconostasis was dismantled and destroyed, and the silver royal gates were melted down.

Over time, the political regime changed, and the attitude towards religion became different. In the early 1990s, the Assumption Cathedral was returned to the faithful, and in 1992, on the feast of the Nativity of Christ, prayers once again resounded within its walls. The first service took place in the upper church, where an iconostasis from the museum's reserves was installed, brought from the destroyed church of the village of Solyonoe Zaymishche. For the lower church, the iconostasis was made by masters from the Trinity-Sergius Lavra in the ancient Russian style. In our time, when pragmatism and virtual reality occupy more and more space, it is important to remember spirituality. The Center for the Revival of Orthodox Spirituality 'Faith, Hope, Love' and a Sunday school operate at the Assumption Cathedral. On April 26, 2012, the church of Saint Matrona in the village of Samosdelka in the Kamyzyak district was consecrated, where a dependency of the Assumption Cathedral was established.