A concession represents cooperation between a public authority and an economic entity. This form of partnership has proven to be useful in infrastructure development. However, the concession as a model of financing public infrastructure was less often applied in practice, which represents a research problem arising from the lack of research on the advantages and disadvantages of concessions and the effects of their application in financing public infrastructure. The reason lies in the fact that it represents a relatively new model of financing works or services, and it achieved its greatest success after the entry into force of Directive 2014/23/EU of the European Parliament and Council of February 26, 2014 on the award of concession contracts. The subject of research in this work is concessions, their definition and application as a model of public infrastructure financing. The purpose of this paper is to present the concession as a model of public infrastructure financing and to analyze the possibilities and advantages of their use for the public and private sectors. The aim of the research is to point out the importance of the application of concessions in public infrastructure projects.