The Republic of Serbia has all necessary resources for the development of rural tourism, but it is insufficiently developed. According to the categorisation of the Organization for Economic Cooperation and Development (OECD) 85% of the Republic of Serbia’s territory is rural. However, in accordance with the results of the Census of Agriculture in 2012, less than 1% of the total number of agricultural holdings is engaged in rural tourism. This paper’s goal is to highlight the significance of rural tourism development in the Republic of Serbia based on the sustainability principles. The sustainable development of rural tourism is part of the integral rural development and it implies sustainable development from ecological, economic and social point of view. The sustainable development of rural tourism has a key significance for rural development and the decrease of local depopulation of rural areas in the Republic of Serbia. The authors consider as necessary to adopt the Strategy of Rural Tourism Sustainable Development as well as to define the method of management of sustainable development of rural tourism in the Republic of Serbia.