In this study the author proposes that the Madonna in the altarpiece by Lorenzo Lotto in the cathedral of Asolo (signed and dated "LAVRENT.LOTVS IVNIOR M.D.VI"), which was previously thought to have been commissioned by the local Battuti Confraternity, may in fact be identified as Caterina Cornaro, Queen of Jerusalem, Cyprus, and Armenia, and Domina of Asolo. The author bases his conclusion on a comparison with the portrait of Caterina by Gentile Bellini, as well as on historical and social considerations. It is probable that the iconography is that of the Virgin Immaculate, to which the Queen is explicitly compared in a poem commissioned in her honor by the Duke of Milan. Some of the landscape elements may be interpreted both as symbols of the Immaculate Conception and as references to Caterina's personal history.