The icon represents Christ descending in Hell, breaking the gates of Hell (stepping on them), and lifting humanity from the bondage of death. Humanity is symbolically represented by Adam and Eve.
To the right side of Christ is St. John the Baptist, King David and King Solomon. To His left and next to Him stand the Righteous Abel, Prophet Zachariah and Prophet Isaiah.
St. John the Baptist represents the "bridge" between the Old and New Testament and the person who urged people to prepare for the coming of Christ. The other persons represent the faithful and righteous people of the Old Testament. Under the gates and in the dark hole (Hell/Hades) is a figure of a man captivated or chained and bound symbolizing Death.