In a time of rapid media development, their role in a child’s life is becoming increasingly important. Children are exposed to media content from an early age, and it is their age that makes them the most vulnerable segment of society. As the influence of media on children grows, there is a growing debate as to whether this influence leaves more positive or negative consequences on child's development. The aim of this paper was to explain a strong role of the media and meaning and importance of media literacy and media education of children. Also, the paper tries to explain the positive and negative influences of the media on children and the role of parents and educators in media literacy of children. The goal of media literacy of children is to teach a child how to approach any media content responsibly and critically with the help of acquired competencies. The process of children’s media literacy starts with the parents because they are responsible for creating a safe media environment in the family. With their own developed knowledge and skills, parents contribute to creating a positive media environment in which children will be safe and encouraged to learn and develop their own digital competencies and media literacy.