During Russian Knyaz Dondukov-Korsakov's visit to Varna, he noticed the need for a cathedral church that would suit the needs of the growing city's population of Eastern Orthodox Christians.
Metropolitan Simeon gathered the community to elect a commission aimed at preparing the construction of a new church, particularly selecting the spot, raising money and securing timber and building materials.
The 15,000 francs that were initially collected were quickly laid out, but the Bulgarian government granted a sum of 100,000 leva and a lottery of 150,000 2-lev tickets was run.
The name that was chosen, Dormition of the Theotokos, was in memory of Russian Empress consort Maria Alexandrovna, a benefactress of Bulgaria and aunt of the Bulgarian knyaz, who had recently died.
Initially, the local government concluded a 6,000-leva contract with the architect, but he soon asked for more resources, so the commission decided to buy his plans but not engage him with the construction.
42 small and 3 large icons were brought from Russia as a donation by Nicholas II in 1901, additional 8 intended for the middle and north doors following in 1904.
The 38 m-high belfry was fully erected between 1941 and 1943 by architect Stefan Venedict Popow, the domes took their current appearance in the period, steam heating was installed and the construction of the roof was changed as well.