The town of Nikolaevo has a population of less than 3 000 inhabitants and is the municipal centre of 3 settlements. It lies at a distance of 39 km northeast of Stara Zagora. The municipality is specialized in the production of peaches, plums, sunflower, vines and fruits.

In the region of the municipality there are remains of Thracian settlements and a medieval fortress. The town is mentioned in an Ottoman document from 1472.

Tourist sight of the town is the church "St. St. Cyril and Methodius" built in 1897.