Κneževac is located in the central part of the municipality. It developed as a village on the northern slopes of the Straževica hill, between the mouth of the Zmajevac brook into the Rakovički potok and its own confluence into the Topčiderka river. ). It is bordered by the neighborhoods of Rakovica on the north, Vidikovačka Padina on the west and Labudovo Brdo and Kijevo on the south.
As a southern extension of Rakovica, it developed quickly after the World War II (population 784 in 1921, 12,947 in 1971), turning from a distant suburb into an urban neighborhood of Belgrade to which it is connected not just by the roads but also by the railway and a tram line (No. 3). However, modern neighborhood is administratively diminished, so the population of the local community of Kneževac in 2002 was only 3,407. The Rakovica monastery and the woods of Manastirska šuma are located nearby so as the Belgrade's major quarry, Kijevo, on Straževica. The vast underground military complex "Kneževac", heavily bombed during the 1999 NATO bombing of Serbia is colloquially better know as Straževica.