Chernivtsi Regional Art Museum was founded in 1988 and is the largest art institution in Bukovyna. Today, the museum's exposition is housed in the building of the former Directorate of Savings Banks, which is a monument of Art Nouveau architecture (Viennese Art Nouveau). It was built in 1901 by the Austrian architect Hubert Gessner, a student of Otto Wagner.

The basis of the museum's collection is the cult and secular art of Bukovina of the 17th-21st centuries, as well as the original folk and decorative-applied art of the region of the 19th-21st centuries. Icons of the 17th-18th centuries are especially valuable, as well as so-called "home images" made by non-professional masters (which were widespread in Western Ukraine in the 19th and early 20th centuries), old prints, Bukovynian carpets, masterpieces of local embroidery and Easter painting. The collection of icon painting of the XVII-XX centuries includes Bukovynian home images, icons on glass, valuable works of folk and professional icon painting, etc.