The skyline of Oelsnitz/Vogtl. is shaped by the highest church steeples of the Vogtland. The towers of the St. Jakobi Church rise up 73.5m into the sky.

Presumably on the place where the church stands today there was a construction of wood in the 12th century. The first stoned church was built in 1240. The building was extended and rebuilt for many times, but it burned down in 1519. The church was established in a late Gothic style. Since then, again and again fires destroyed big parts of the St. Jakobi Church, but not the arch.

The today's view of the church arose in 1866/67 by the architect Constantin Lipsius, and in 1888 there was a last big renovation with the help of Christian Gottfried Schramm. In the 20th century there were major renovations. In 1904, 1934/41 and in the years 1981 to 1999 little sandstone-towers vanished because they were at risk to collapse. In the last big construction phase the north and the south tower were rehabilitated and works on roof, arch, the valuable sandstone portal and the entrances took place. On the one side of the access stairs outside there is a memorial plaque of the famous composer Johannes Rosenmüller (1619-1684) from Oelsnitz and on the other side there is a plaque commemorating the first peaceful demonstration in the town in October 1989. The interior fittings of the late Gothic church are from 1888. The altar is made in New Gothic Style, the altarpieces were drawn by Moritz Heidel. The town church houses the biggest organ of the Vogtland. The romantic instrument from 1930 was built by the company Gebrüder Jemlich from Dresden and has over 4102 organ pipes and 65 registers. The instrument was designed by Professor Karl Hoyer from Leipzig. In 2005 the company Thomas Jann in Allkofen gave the organ an overhaul. In the same year the whole interior room of the church was painted and renovated. In 1859 the church burnt down but the classicistic baptismal font from 1833, which was built by the famous sculptor Ernst Rietschel, was preserved. The interior room is characterized by the vault of stars, which is placed on 12 pillars. In the southern transept an exhibition chapel was created, which issues a picture of superintendent Georg Christopher Meyer (1679-1755). The crucifix from 1515 which  hangs at the southern wall of the central nave was originally hanging in the Katharinenkriche until 1978. The big bronze bell from 1866 is preserved. A renewal of the steel bells from 1957 is an aspired goal of the parish.