At the close of the 16th Century, a Serb took the "Kasperov" Icon of the Mother of God from Transylvania to his new home in the Olviopolsk district in Kherson province. The Icon was handed down in blessing from parent to child, and in 1809 came into the possession of a certain Mrs. Kasperov, who lived in the village of Novo-Ivanovo, situated on the right bank of the Dniepr River. It so happened that in February 1840, Mrs. Kasperov was praying long into the night over her many sorrows. During those prayers she saw that the ancient Icon, which was so darkened with age that it was difficult to make out its features, had suddenly renovated itself, and that the faces of the Theotokos and the Savior had become clear and bright; they have remained so to this day. Soon thereafter, many instances of healings and other grace-filled miracles coming from the Icon revealed its wonderful power, and brought it renown. Following a study of the many miracles stemming from the Icon, the Icon was acknowledged to be miraculous. From everywhere, those who were suffering, those beset by illnesses, those in need of divine assistance, were drawn to the Icon.
In 1852 the residents of Kherson requested permission to have an annual Procession of the Cross with the Icon on the Feast of the Lord's Ascension. During the war years 1853-1855, such a Procession of the Cross with the Icon took place in Odessa because of the hostilities besetting that city and the city remained unharmed. This was taken as a sign of the Mother of God's special protection. It was then decided "to make this event ever-memorable unto instruction to future generations, and to make October 1 a Holy Feast-day." Each year, the Icon is taken in procession from Kasperovka to Odessa, where it remains from October 1 until the fourth day of Pascha. From the Feast of the Ascension until July 29 it is in Kherson, and from July 1 until August 1, in Nikolaev. In each of these towns, the Akathist to the Most-holy Theotokos is sung before the Miraculous Icon each Friday.
The "Kasperov" Icon is an ancient image written in oils on canvas and affixed to a board. Flanking the central image on the Icon are St. John the Baptist the Holy Martyr Tatiana. The Icon is 30.8 cm in height and 26.4 cm in width. The Mother of God is depicted holding the Pre-eternal Infant on her left arm. In His right hand, He holds a scroll. Framing the Icon is a gold riza of fine craftsmanship, decorated with pearls, rough and cut diamonds, rubies, and emeralds.