ENThe purpose of this article is to analyze free economic zones activity in Lithuania and to examine their impact on investment flows to the country. Two of seven Lithuanian free economic zones were selected as research subjects: Kaunas and Klaipėda. The following research methods were applied: analysis of the most important acts of the examine problem, a statistical data analysis using tabular techniques and construction of figures. Free economic zones web sites and the database of the Department of Statistics of the Republic of Lithuania are the statistical sources of data. Research methods made it possible to perform the following key conclusions: 1995 can be considered as the beginning of free economic zones in Lithuania, only 3 of the 7 economic zones operate, Klaipėda free economic zone compared with Kaunas had a better selected to analyze indicators, free economic zones are an increasing important tool of investment attraction in Lithuania.