Svetac was inhabited in prehistoric era, as evidenced by archeological remains, the oldest of which were found in Tovorski bod, a cave in the south part of the island.

[5] After the pine forest on the island was completely cut down, the factory was closed, and Svetac was acquired by members of Zanki family, who settled there.

[3] Now members of Zanki family effectively live there four to six months a year, from late spring to autumn,[3] still keeping up the houses of their grandfathers, fishing, making red wine and olive oil.

[6] Svetac is a breeding ground for a small number of Eleonora's falcons, a rare bird with only c. 40–80 nesting pairs estimated to live on the outer Croatian Adriatic islands.

[3] Svetac and its neighbouring islet of Kamnik, along with Vis, Brusnik, Biševo, Jabuka and the Palagruža archipelago, forms part of the Croatian Offshore Islands Important Bird Area (IBA).