The town Veliki Preslav is situated at the foot of the Preslavian Mountain in immediate proximity to where the Big Kamchia river leaves the gorge and flows down the vast valley, following its route to the coast of the Black Sea. The local tribes are said to have settled in those fertile lands long long time before. Signs of Thracian settlement were found in some archeological research there. The name of the town has a Slavonic origin. This proves the theory of dominant Slavonic presence here since the very first centuries after Bulgaria on the river Danube was founded in 681. Around the beginning of 9th c. /probably around the time of wars Krum waged on Byzantium/, the establishment of a well-consolidated centre was started here. Gradually, in due course of time, it became an important strategic centre in military aspect and also the seat of Ichirguboila /a high-ranking dignitary who was third in rank after the ruler/. The town expanded very much and really fast in its very first century of existence. It was enclosed by a solid fortress wall and it was also very well laid out and supplied with water too. When royal prince Boris imposed Christianity as the official religion in 864, many churches were built there in order to show that the town grew up second best in significance after the capital Pliska. The political life of Bulgaria was tremendously shaken in 893. Because of Vladimir Rassate's (Boris' first-born son and his successor as well) striving for reviving the pagan cult, Boris set up a coup d'etat, dethroned Vladimir and blinded him as a punishment. At an organized assembly, Vladimir's place was taken by his highly educated brother, Simeon, and Preslav was proclaimed the new capital of Bulgaria. In the next 80 years the town developed rapidly and became the heart not only of politics and diplomacy, but also of many artistic crafts, remarkable architectural achievements, active literary and enlightener's activities. A chronicler mentioned that Simeon had needed 28 years to establish and build up his glorious capital. However, the archeological excavations proved that the town continued to develop under the rule of Simeon's son, Petar. Presumably, it was the 30s and 40s of 10th c. when Preslav reached its peak in growth and magnificence. Considering the develpoment, planning and organization of public services and economic gain, Preslav was a true rival of the biggest and most important city centres like Konstantinopolus, Baghdad, Magdeburg, etc. Crucial changes occurred for Bulgarians when tzar Petar died in 969. BorisII had only just ascended the throne when he had to face the insidiousness of Byzantine diplomacy. In contrast to his grandfather, Simeon, BorisII could not manage to retain the independence of the kingdom. Preslav was occupied by Svetoslav's /Kiev royal prince/ Varangians. Furthermore, in 971 it was burnt down and ravaged by the army of the Byzantine Emperor, John Tzimisshi. The magnificence of Preslav was overclouded. The conquerors took away the treasury, the king's regalii/ the symbols of a ruler's power/ and a large part of Simeon's library.
Although the town did not lose its importance in the next three hundred years, the neighbouring outskirts and the big monasteries became desolate, the economy lost its vitality and significance. The Tatar raids, during the 70s of 13th c., drove away the last citizens of Preslav as well as the protothroned bishop of the town who searched for shelter somewhere amongst the naturally protected slopes of the Shumenian plateau. Few of the old Preslavians' descendents, who somehow survived, built up a village of the same name only two kilometres northwards from the fortress where the contemporary town Veliki Preslav is now situated.