The village was renamed "Sredets" on 14 August 1934. Under Communist rule, the village was renamed "Grudovo" on 1 June 1950 in honour of Todor Grudov, a leader of the Communist September Uprising of 1923 and former mayor of the village. Grudovo was granted the status of town on 6 February 1960 and, following the fall of Communism in Bulgaria, on 23 January 1993, the town was renamed Sredets.