Bolhrad was founded in 1821 by Bulgarian settlers in Bessarabia, under the direction of General Ivan Inzov who is "revered" by Bolhrad residents as the "Founder of Our City." Bolhrad became part of Moldavia from 1856 to 1859, Romania from 1859 to 1878, 1918 to 1940, and 1941 to 1944, before being incorporated into the USSR (in the territory of the Ukrainian SSR), and later independent Ukraine. In 1921, there was a terrorist attack on a palace on the city.