The first church at Värsås was a Romanesque stone building in round-arch style, constructed in the twelfth century and later altered and extended in the 1760s. By the mid-nineteenth century it had become too small for the parish, prompting the construction of an entirely new church.
The current building was erected in 1856–1857 to designs by the architect Johan Fredrik Åbom, and built by local brothers Anders and Petter Pettersson, who had grown up nearby. It was consecrated in October 1857. Its style combines neoclassicism with elements of Gothic Revival, and the church has a tower and a five-sided apse. Beneath the chancel floor lies the Lagerberg family burial vault.
Several furnishings survive from the medieval church, including a Romanesque font, a Baroque altarpiece, fragments of a decorated ceiling attributed to Fredrik Wahlin of Hjo, and a door richly decorated with ornamental and figurative ironwork. The altarpiece in the present church, shaped like a temple gable, includes a painting of Christ on the Mount of Olives by Birger Lignell, dated 1863.
Of particular interest is the church's great bell, cast by Busse Jacobsson, probably at the same time as a bell at Lindärva church. It carries a Latin inscription with finely formed lettering and rose ornamentation, dedicating it, according to the inscription, to the honour of the Virgin Mary in the year 1516.
The church has two organs. The organ case on the west gallery originates from the church's first organ, built in 1861 by Johan Nikolaus Söderling, though the instrument behind it was substantially rebuilt in 1957 using some older material. A smaller organ was installed in the choir in 1967.