The aim of this paper is to analyze in chronological terms the idea for the construction of Morava-Vardar canal and the contemporary geopolitical consequences of this project along with its economic, environmental and social impacts. Through critical readings of different contributions and reports made by scientific community, other institutions and media we have presented the idea in chronological terms from the late years of the 19th century until recent years. Continental geographical position Serbs have, has always been considered as an obstacle for their overall development. Through participation in unsustainable geopolitical formations they have continuously managed to develop any kind of connections to the sea. Even though part of various political entities over the time the effort to reach the direct contact to the sea was not successful. For this reason, Serbs raised idea and developed a project to connect their continental state with the sea through construction of the Morava-Vardar water canal. Except economic and environmental consequences, construction of this canal would have geopolitical implications in Balkan Peninsula known as very unstable geopolitical region.