The bridge got its name on August 20, 1739 after the Church of the Ascension, erected next to the bridge in the 1760s according to the project of A. Rinaldi and destroyed in 1936.
By 1735, there already had been a wooden bridge on this site. In 1790, when the construction of granite embankments was completed on this section of the Catherine Canal, the bridge had stone abutments lined with granite and a wooden beam span. One of the authors of the reconstruction of the wooden bridge was the architect G. H. Paulsen.
The total length of the bridge is 19.3 m, width – 20 m. The bridge is designed for vehicular and pedestrian traffic.