After Hristo Mirski resigned, on 7 November 1923, Petar Stoianov became chairman of the three-member municipal committee. As a result of the municipal elections, held on 1 June 1924, he was elected Mayor of Varna form the Democratic Accord.
Petar Stoianov was born on 25 September 1881 in the village of Strelets, Gorna Oriahovitsa. He studied in Kazanlak, in Tarnovo Grammar School and in the Military School in Sofia and the Higher Marine School in Kronshtad, Russia. He took part in the Balkan War as Commander of "Strogii" torpedo boat, and during World War One he was part of the Danube Fleet. For his valour he was decorated with the orders: "For Military Merit", St. Alexander, etc.
After settling in Varna, Petar Stoianov took an active part in the business, social and political life of the town. As an industrialist and merchant, he was elected Chairman of Slanchogledi JSCo. He was member of the boards of various charity, cultural and sports clubs and organisations. He is one of the founders of the Bulgarian National Marine Accord and its chairman for 6 years, starting 1924, and he is also a founder of the Varna Resort League. He was elected municipal councillor and twice an MP /in 1927 and in 1938/ Petar Stoianov contributed a lot the city of Varna to prosper and be called the Queen of the Black Sea. The councillors saw a cure for the desperate economic crisis of the town in the development of both industry and tourism. The business policies of the Municipality was consistent in this respect, despite the difference in political allegiance of the councillors. A municipal accommodation bureau was opened in 1925, which collected the resort charges and supplied information and other services to the holiday-makers, it also managed the municipal properties. Stoianov's contribution as Mayor for the construction of the Central Sea Baths cannot be overestimated.
The construction started on 7 may 1925, and on 12 July 1926 they were officially opened.
A number of streets were improved during Stoainov's term in office, like Tsar Boris, Vladislav, etc., water supply, fire brigade premises were also improved, bus transport service was introduced. He also supported the organisation of craft exhibitions in the town. The Mayor secured money for the continuation of the construction of the theatre building. The new elections in February 1927 put and end to his mandate.
In February 1944 he was appointed Mayor of Varna again. As such, he was arrested on 8 September 1944. He was convicted by the People's Tribunal and interned to the village of his birth, where he died on 19 September 1954.
Petar Stoianov was known and respected by his fellow citizens for his honesty, loyalty and merits. Clever, energetic, responsible and reliable, he made great contributions to the prosperity of Varna.