Prote Bakovića is located west of Baščaršija Street (Baščaršija Square) and runs north to south, from Mula Mustafe Bašeskije to Sarači, and encounters just a few meters of Ćulhan Street before it reaches its southernmost point.

During the Ottoman period, it was a cul-de-sac on Varoš St., now Mula Mustafe Bašeskije, and there was no outlet on the Sarači side.

It acquired the status of a full street in 1900, when it was called Protina St., but was again made part of Mula Mustafe Bašeskije, known then as Ćemaluša. An outlet was made onto Sarači in 1913.

After the First World War it was again made into a separate street and the name Protina was reinstated. In 1931 it was given a longer name, Prote Bakovića, which it has retained to this day.

The street was named in honor of Stevan Baković, an Orthodox Christian parish priest and archpriest (an elder among Orthodox Church officials) who had lived on this street.

Stevan Baković was the archpriest in Sarajevo from 1818 until his death in 1893 and during the time that he served in the city on the Miljacka, he was highly respected by Sarajevans of all faiths.