The Order of Bravery was established with a decree of Knyaz Alexander Batenberg on 1 January 1880.

The order was one of the many violations of the Treaty of Berlin with which Bulgaria demonstrated full independence although the country was deprived of high state decorations - symbols of national independence.

The head of state and the heir to the throne were cavaliers by right to Military Order of Bravery I grade and Military Order of Bravery IV grade respectively.

Several German officers received this award during World War II.

After the end of the monarchy the orders and the medals of the Kingdom of Bulgaria were fully substituted with other ones.