As a result of over 24 years of management of agricultural property of the State Treasury, from 807 thous. ha properties which were overtaken, 80.3% were firmly disposed (mainly through sales). Lease continues being significant as 120.1 thousands ha of land (14.9%) are being leased. Aim of this research was to identify determinants of management of agricultural properties of the State Treasury in Warmia-Masuria province. Analysis based on reports on the activity of APA’s Territorial branch in Olsztyn and results of questionnaires filled in by people who manage farms on properties leased or purchased from the State Treasury. Results of this questionnaires state that factors influencing profitability of farm production (shaped for instance by prices of production resources, farm production costs, demand on products of the farm or by unstable prices of purchase) were most significant. Resource factors resulting from possessing proper machine park, equity for development and quality of possessed/leased lands were also important for managing a farm.