It is located on the left bank of Seret river. It is divided into Upper (Verkhni) and Lower (Nyzhni) Lukavtsi. The population of the village is about 2,600.
The village was first mentioned in 1428 in the charter of Moldavian master Oleksandr the Good. The religious group of the Old Believers called Lipovans settled in the village in the times of Austria. They migrated from the northern part of European Russia after the split in Russian Orthodox Church caused by the reforms of Patriarch Nikon in 1651. The village was called Lukavtsi in the Soviet times (this name can still be seen on some maps), but in 2005 The Parliament returned its historical name back.
A famous public figure Mykola Vasylko (1868-1924), who used to be a deputy of the regional Bukovynian Diet and Austro-Hungarian Parliament for 20 years, was born in Lukavtsi. During World WarI Mykola Vasylko was one of the founders and members of the Main Ukrainian Council and the General Council of Ukraine. During the war he performed diplomatic missions as a representative of Western Ukrainian People's Republic and Ukrainian People's Republic in Austria, Switzerland and Germany.