Lithuanian socialist party was founded in 1994 March 26 in Vilnius. The principal creators of LSP were J.Sakalauskas, A. Visockas and M. Bugakovas. A. Visockas was elected as the first leader of LSP.
   Since 1997 the leader of the party have been Mindaugas Stakvilevičius, Ph.D. in physics and mathematics and a well known public figure. The VII Congress of LSP on 28 of October have elected the new leader of the party - a scientist Giedrius Petružis. The premier assistant of LSP was comfirmed a public man - Antanas Barcys, assistants - a political scientist Michailas Bugakovas, and a businessman - Jaroslavas Kozlovskis, the secretary of LSP Board is Liongina Daktaraitytė.
    The highest organ of the party is the Congress of LSP. It elects the Council of the party, which elects the party Board.
    The credo of LSP program is socialism, democracy and independence. The program of LSP is oriented towards the social state of Lithuania and in the future towards the new socialism. In foreign politics our party emphasizes the need for consistent policy of neutrality, good and friendly relations with all states, especially our neighbours.
    LSP ideology is based on methodology of dialectical materialism, theory of Marxism and contemporary social science. Socialists unambiguously disassociate from stalinism and totalitarianism theories and practice. LSP propagate the new XXI century socialism.