The basilica is also famous for being the finishing-point of the famous "Corsa dei Ceri", a celebration which has ancient origins, which takes place every year (on 15th May) and involves all of the town's inhabitants, for the glorification of Sant'Ubaldo.

Built on pre-existing medieval structures, the basilica was enlarged at the beginning of the 16th century, the period when the convent and cloister were also built. The simplicity of the exterior is in stark contrast to the richly decorated interior, which has five naves and a semi-circular apse.The church, decorated with frescoes from between the 16^th and 18^th centuries, is entered from the cloister, which itself has sixteenth-century frescoes attributed to Pier Angelo Basili, depicting scenes from the life of Sant'Ubaldo.