More than three centuries ago, the Assumption Cathedral was laid on the banks of the Kem River, becoming a symbol of the northern city. Over the centuries of its existence, it has endured much. In the mid-17th century, another Assumption Cathedral stood on this site, built with funds from the Solovetsky Monastery, featuring two altars: Zosimo-Savvatievsky and Preobrazhensky. In 1710, a fire destroyed the Kemi part of the city along with the cathedral. A year later, construction of a new cathedral began, with two altars: the Assumption and Zosimo-Savvatievsky.

The new cathedral resembled its predecessor, which is characteristic of traditional wooden architecture. It is located on Lepostrov Island, surrounded by two arms of the Kem River. The Assumption Cathedral consists of several parts: the Assumption Church, which is the central part, the Nikolsky and Zosimo-Savvatievsky altars, the narthex, the refectory, and the porch. The refectory is located to the west of the church and has a square shape, with two altars adjoining it from the south and north. The cathedral, except for the frame narthex, is made from a single log structure without the use of nails. A unique feature of the Kemi Assumption Cathedral is the iconostasis, illuminated through windows under the ceiling, creating the effect of a 'glowing' iconostasis.

In December 1876, the cathedral was recognized as dilapidated and closed, but thanks to parishioners, its restoration began in 1889. During the repairs, all parts of the cathedral were updated, with special attention given to the interior decoration.

On June 26, 1936, the cathedral was closed by the decision of the Karelia Central Executive Committee. In the 1960s, it was partially restored under the guidance of architect A.V. Opolovnikov. From 1976 to 1979, the central dome was restored, the roof was repaired, and biocidal treatment of the structures was carried out.

The Assumption Cathedral was luckier than the stone Annunciation Cathedral of Kemi. It was neither blown up nor burned, but it was looted. Unique icons were either distributed to museums or stolen. Currently, only the Deesis row remains from the iconostasis, representing immense historical and artistic value. It consists of twenty-one icons, each two meters high and ranging from 0.8 to 1.5 meters wide. For parishioners and Orthodox people, they are priceless, just like the cathedral itself.

Unfortunately, time and lack of proper care during the Soviet period have taken their toll. The icons and the cathedral itself are deteriorating. It is impossible to carry out the necessary repairs with modest donations from parishioners or funds from the local budget. Significant funds are required. The cathedral's rector, Father Andrey Bondarenko, and the head of the Kemi administration, Alexey Kokkov, have long been trying to draw attention to the problem. Representatives of the Ministry of Culture of Karelia, architects, and restorers have visited the cathedral. After the visit of the Chairman of the Government of the Republic, Sergey Katanandov, progress has been made. The company 'Lad' is already conducting design work, conditions for electricity supply and telephony have been prepared, and the issue of electricity capacity is being resolved. A meeting on the restoration of the cathedral is planned in the government.

Famous tourist routes pass through Pomorye and Kemi. The Assumption Cathedral attracts travelers who can appreciate the craftsmanship of 18th-century sculptors and modern restorers, as well as participate in worship services. In 1989, the Assumption Cathedral Parish was established, and services are now held there.

Architects consider the Kemi Cathedral to be a jewel of northern wooden architecture from the early 18th century. In 2006, the cathedral building was transferred for gratuitous use to the Kemi Annunciation Men's Monastery. A full restoration began on April 25, 2016.