The church is situated in the Old town of Plovdiv on one of the city's seven hills, Nebet Tepe.
Both the church and the monastery were destroyed when the Ottoman Turks conquered the city in 1371 in the course of the Bulgarian-Ottoman Wars.
It was a large three-nave pseudo-basilica built by craftsmen from Bratsigovo, and the first benefactors (ktitors) were wealthy merchants from the town of Koprivshtitsa, the Chalukov brothers - Vulko and Stoyan Teodorovich Chalukovi.
On 25 December 1859 and again on 10 January 1860 the bishop of Plovdiv Paisius held a service in Bulgarian language and publicly announced that his congregation denounced the Greek Patriarch of Istanbul which became a great scandal and Plovdiv became the most radical center for the struggle of the autonomy of the Bulgarian Orthodox Church.
In 1881, three years after the Liberation of Bulgaria the architect Josef Schnitter constructed a three-story domed belfry near the western entrance of the church.