This paper is qualitative and theoretical research of the concept of sovereignty and the libertarian theory, particularly the concept of individual liberty. It represents a concept developing study, with a specific accent laid on the individual liberty, and the theoretically established concept of sovereignty. The research focus could be identified with the conceptualization and manifestation of the individual sovereignty, as a phenomenon that is not fully conceptualized and strictly defined. In the scope of this paper, content analysis method and comparative method would be used. The analysis would refer to the theories of sovereignty and the theory of libertarianism. The comparative method would be used for comparison of these two theories. The paper would start with the analyze of the concept of sovereignty in its classical sense, its etymology and essence, the typology of sovereignty, the dimensions of sovereignty, the principles of sovereignty; would continue with analyzing the libertarianism as a specific theory, the idea of individual liberty, its principles and consequences; and in the end would finish with synthesis of the essence of the two theories resulting in conceptualization and manifestation of the individual sovereignty.