Avala Tower was destroyed on 29 April 1999 by NATO bombardment, supposedly to put Radio Television of Serbia off the air. Radio Television Serbia broadcasting did not suffer as it was relying on a network of local TV stations which were obliged to relay its program throughout the whole of Serbia. The tower was one of the last buildings to be destroyed before the end of the NATO operation. A special bomb was used to destroy the tower. The blast was one of the loudest explosions heard throughout Belgrade during the NATO bombardment. Between the date of its destruction and 11 September 2001, it was the tallest building ever destroyed, succeeding the Singer Building. As of 2001, it is the third tallest building ever destroyed (behind the two towers of the World Trade Centre in new York).

In 2004, Radio Television Serbia commenced a series of fund-raising events in order to collect money to construct the building once again at the same place it was destroyed. In 2005, clearing of the site where the tower was destroyed began and on 21 December 2006 the construction of a new Avala Tower commenced.

Initially, completion of the new tower was expected in August 2008, but construction works were severely delayed. The opening date was pushed back to 29 April, the tenth anniversary of its destruction. Radio Television Serbia reported on 23 October 2009 that the tower has been completed.