This work examines relevancy of theoretical aproaches on the subject of democratization processes presented by Francis Fukuyama, Samuel Huntington and Fareed Zakaria, and it discusses a level of relevancy of their theoretical concepts and theses in comparison to the democratization process in Libya, which started in spring 2011. First, the theoretical part of this work presents specific historical, sociocultural, political, religious and economic contexts of Libya from a historical-sociology perspective with a focus on the democratization and liberalization processes in Libya. It discusses democratization factors and reasons, which are applied on the situation in Libya. The empirical part of this work presents reflections and perspectives of the democratization process in Libya from an emical perspective of a Libyan citizen. These reflections are confronted with the theoretical approaches presented in the first part, especially with Huntington's Third Wave. The empirical part reflects the processes of the previous non- democratic regime of Muammar Kaddafi, then the fall of the regime and the revolution situation in Libya, a new democratic regime and finally, the perspectives of consolidation of democracy in Libya.