Stambolov was, after Stanko Todorov, Boyko Borisov and Todor Zhivkov, one of the country's longest-serving prime ministers.

Criticised for his dictatorial methods, he was among the initiators of economic and cultural progress in Bulgaria during the time of the Balkan Wars.

At the age of 32, Stambolov found himself in the highly unusual position of being simultaneously a government minister, president, and regent for an absent monarch.

According to a close friend, Stambolov was "almost inclined to resign the honours [of serving as regent], together with the dangers of his position, and retire to his beloved Turnovo."

Through Stambolov's efforts, a successor to Alexander was found in Ferdinand of Saxe-Coburg-Gotha, who was proclaimed Knyaz ("Ruling Prince") of autonomous Bulgaria on 7 July 1887 and crowned on 14 August 1887.

Stambolov was a nationalist; as a politician, he strengthened the country's diplomacy, its economy, and the general political power of the state.

In 1891, he was targeted by some members of the Internal Macedonian Revolutionary Organization (IMRO) for his authoritarian methods and support for the Ottoman Empire.

He survived an assassination attempt unharmed, but responded by having many people he suspected of taking part imprisoned and treated brutally.

He was knocked to the ground and viciously beaten, resulting in his entire face being slashed, both of his arms almost completely severed, and his right eye gouged out.

Stambolov established close connections with the Sultan in order to enliven Bulgarian national spirit in Macedonia and to oppose the Greek and Serbian propaganda.

As a result of Stambolov's tactics, the Sultan recognised Bulgarians as the predominant people in Macedonia and gave a green light to the creation of a strong church and cultural institutions.

Stambolov negotiated loans with western European countries to develop the economic and military strength of Bulgaria.

His domestic policy was distinguished by the defeat of terrorist groups sponsored by Russia, the strengthening of the rule of law, and rapid economic and educational growth, leading to progressive social and cultural change, and development of a modern army capable of protecting Bulgaria's independence.