Locke’s conception of private property as developed mainly in his Two Treatises on Government is still being discussed among philosophers. The paper is intended as a contribution to the historical-logical interpretation of some aspects of his concept of property. Contrary to most interpreters who underline the external determinations the author tries to see the changes of the concept from inside the process of its development. Based on this approach is then the description of the development of property from its original to its highest, i.e. legal form.