We explore the potentiality of using an advanced collinear LiNbO3 acousto-optical filter as a dispersive element for a high-resolution optical spectrograph. Our analysis is focused on weak optical signals in the blue to near-ultraviolet range accessible to ground-based facilities. We examine the phenomenon affecting the filter transmission efficiency and its spectral resolution, namely, the light-induced absorption and photorefraction. A new nonlinear approach is used to determine the performance of this collinear LiNbO3 filter governed by acoustic waves of finite amplitude. The highest available spectral resolution attains δλ=0.15 Å at λ=370 nm (the resolving power R∼25,000), with an efficiency of 11%, or δλ=0.18 Å at λ=532 nm (R∼30,000), with an efficiency of 33%. A slight decrease in the spectral resolution would imply a significant increase in transmission efficiency. Then, we carried out proof of principle experiments with the collinear filter based on the congruent LiNbO3 crystal of 6.3-cm length at λ=405 and 440 nm to verify our analysis and estimations. Potential applications are tackling many issues in astronomy, from detailed abundance analysis in a variety of targets to precise radial velocity measurement.