The last renaming took place in 1924 after King Peter I of Serbia, who had taken the nom de guerre "Mrkonjić" while fighting in the uprising (1875–78) against the Ottoman Empire.

In World War II, the town became renowned by the first meeting of ZAVNOBiH on 25 November 1943, when Bosnia and Herzegovina was proclaimed as a common republic of Serbs, Croats and Muslims.

[3] Bosnian Serbs committed a massacre of 28 Croat and Bosniak civilians, who were abducted from their homes in Mrkonjić Grad, and executed in Oborci, on 13 September 1995.

The following table gives a preview of total number of registered employed people per their core activity (as of 2016):[10] The Balkana Lake lies near the town and is a small, but beautiful tourist resort including the nearby Skakavac Waterfall.

Una-Sana  Central Bosnia Posavina  Herzegovina-Neretva Tuzla  West Herzegovina Zenica-Doboj  Sarajevo Bosnian Podrinje Canton 10