The Holy Ascension Cathedral in Izyum was built in 1826 with funds provided by Lieutenant Andriy Fedorovych Tymoshenko.

The church is a historic landmark of national significance built in the Classical style.

In 1903, the church was expanded, as evidenced by an inscription that has survived on the church itself.

Originally, the church was located in the suburban settlement of Peski, which later became part of the city limits.

The church was damaged as a result of Russian shelling in 2022.