The author examines written accounts that contain some information about Krasny Yar settlement (Astrakhan Oblast) and fi ndings of archaeological digs on Krasny Yar hillfort in 1989-1991. Archaeological and anthropological investigations on Krasny Yar hillfort and adjacent burial grounds allow distinguishing two main stages in its development: 1) second half of 13th century – 1320s; and 2) 1320s – 1390s. Further, the author examines main crafts practiced in the town and defi nes its place among the Golden Horde towns in the Lower Volga region. Regarding the question of the two Golden Horde capitals – the Old and the New Saray – the author critically examines the hypothetical localization of the fi rst Golden Horde capital at Krasny Yar hillfort, based on archeological and numismatic data. Having studied some later written accounts (16th – 17th centuries) he suggests another name for this town, i.e. ‘Kizil’. The article also offers a brief description of rural settlements and burial grounds found near Krasny Yar hillfort. In this connection, he distinguishes and offers for discussion a territorial-administrative unit of “Krasny Yar ulus”, comprising an urban center and a few rural settlements and necropolises in its environs.