The article highlights the main aspects of the protection of property in the doctrine of the Constitutional Court of the Republic of Lithuania based on the analysis of its decisions. The author reveals the content of the right of property and gives characteristics to items of property, including those that may belong exclusively to the state, produces reasons to justify restrictions of the right of property. He also argues position of the Constitutional Court of the Republic of Lithuania on the extension of the right of property not only to property itself (movable and immovable) but also on property (material) and so-called law-of-obligations rights (right of inheritance, intellectual property rights, right to pension and salary, securities, licenses etc.). The author analyses application of the constitutional provision on the admissibility of withdrawal of property, under the procedure prescribed by law, for public needs if subject to fair compensation. He concludes that public needs in all cases should be specified and clearly defined in respect of all and any item of property. It is also mandatory to preserve balance between the various interests of society as a whole and legitimate interests of its members, and a person whose property is being withdrawn, is entitled to require equivalent, real compensation.