(oil on panel, cm. 262 x 215) was made for the high altar of the church of Santa Maria Nuova of San Lazzaro, commissioned by the Observant Franciscans. The work, painted on several steps between 1490 and 1497, represents the Madonna and Child seated on a high throne flanked by the saints. The group is placed in the shade of a Renaissance cloister, opened in the background to a light hilly landscape.
To complete the altarpiece, a pediment with a Christ asking for Mercy and a pediment with the five stories of the Virgin to the realization of which some critics believe a fourteen year old Raffaellol, then one of Perugino
's pupils, has worked.