Using the B3PW hybrid exchange-correlation functional within density-functional theory and employing Gaussian-type basis sets, we calculated the atomic and electronic structures and thermodynamic stability of three double-layered ͑DL͒ SrTiO 3 ͑001͒ surfaces: ͑i͒ SrO-terminated, ͑ii͒ TiO 2 -terminated, and ͑iii͒ ͑2 ϫ 1͒ reconstruction of TiO 2 -terminated SrTiO 3 ͑001͒ recently suggested by Erdman et al. ͓Nature ͑London͒ 419, 55 ͑2002͔͒. A thermodynamic stability diagram obtained from first-principles calculations shows that regular TiO 2 -and SrO-terminated surfaces are the most stable. The stability regions of ͑2 ϫ 1͒ DL TiO 2 -and DL SrO-terminated surfaces lie beyond the precipitation lines of SrO and TiO 2 compounds and thus are less stable with respect to regular SrTiO 3 ͑001͒ surfaces. Analysis of the stability diagram suggests that Sr precipitation on SrTiO 3 surface never occurs. Our simulations show a substantial increase of Ti-O covalency on the DL surfaces as compared to the regular surfaces, which are themselves more covalent than the crystalline bulk. The implications of our calculated results for recent experimental observations are discussed.