The order was established with a decree of the Knyaz on 19 May 1900 as a sign of the benevolence of the Monarch to the bravery of the Bulgarian army.

In the centre of the averse was placed the monogram of the founder Knyaz Ferdinand, surrounded by a ring in green enamel with inscription ЗА ВОЕННА ЗАСЛУГА (For Military Merit).

During war, the order had a slightly different resemblance with a laurel wreath on the shoulders of the cross and white ring.

The Grand Cross was worn on a wide yellow ribbon with black and white edges - the colours of the Saxe-Coburg and Gotha dynasty.

After 9 September 1944 the ribbon was substituted with the one of the Order of Civil Merit, the monogram of Ferdinand was removed and replaced with the Bulgaria tricolour flag.