The village has been inhabited by the Thracian people and remains of their presence have been found near the village. The church "St Dimitar (Demetrios)" was built in 1882. In April 1903 58 militants and many local people have died in a battle against Ottoman troops and the village was burnt down.
Nowadays Baldevo is a small village. There is a closed lignite coal mine "Kanina" in the village. Tobacco and vine growing are the most important sources of income for the people. There is no school or local health care workers in the village.