The purpose of this article is to reveal the causes of national and cultural identity crisis of Serbs in Bosnia and Herzegovina during the period of Austro-Hungarian occupation and annexation, which led to modifications of their self-identity. The paper meets this research aim through an extensive study of the relevant literature presenting the views of Serbian and Russian scholars. On the basis of comparative-historical and socio-cultural approaches, the authors collate the existing definitions of ethnic, national and cultural identity and define the crucial factors that make the cornerstone of cultural identity: mother tongue, ethnicity, territory, religion, habitat, food, mode of life, customs and traditions, folklore and literature, art...