The European Union marks fifty years of existence of Common Agricultural Policy. This policy has been reformed since 1962 to date in accordance with the circumstances prevailing in the Union and diverse impacts from the international market. The fact that the European Union has grown from a union of six states into a union of twenty-seven states is sufficient to justify numerous reform interventions within the Common Agricultural Policy. The aim of the present paper is to analyze the former course of development of the most integrated policy of the European Union, as well as the proposals for its future reform. Considering the obtaining of candidacy for membership and forthcoming actualization of the negotiations between the Republic of Serbia and the European Union in every, accordingly, in the segment of agriculture, the authors of the present paper deem important to perceive the current changes in the European agricultural policy.