It connects Kontraktova Square in Podil with the Dnieper embankment. The first mentions of Spasskaya Street date back to the beginning of the 17th century. At that time, the Church of the Transfiguration of the Savior was located here, the rector of which was the future Metropolitan of Kyiv, Galicia and All Russia Job Boretsky. In fact, the street was named in honor of the shrine. During Soviet times, it was renamed several times, but in 1992 the historical toponym was returned.

The street began to take on its modern appearance after the fire of 1811. A number of historical buildings from the 19th and early 20th centuries have been preserved in the development, including:

• the estate of the famous confectioners Balabukhov;
• the mansion of the merchant Apshteyn;
• Mazepa's house - one of the few architectural monuments that survived the fire of 1811 in Podil.