In the present article the author examines the basic theses andmethodological postulates of the neorealist theory by a contemporary French legaltheoretician and constitutionalist Michel Troper. The author stresses actuality of thistheory for better understanding of approaches which are developed in the contemporarylegal science conserning nature of interpretation of law, the role a judge plays ininterpretation and the limits of his liberty therein. Examination of the neorealist theory isfollowed by a short analysis of the debates between Michel Troper and anotheroutstanding French legal scholar of our days, Otto Pfersmann.