21st Century Literacy is based on a new set of knowledge and skills that are necessary for a quality life in modern society, which are called information literacy. Information literacy is a fundamental form of contemporary literacy that, in the vast majority, combines the developed skills of other types of literacy, such as standard, computer / information, digital / internet and media literacy. Information literacy is the one that opens up the possibility of adequate selection and critical evaluation of relevant information from a variety of available sources, enabling lifelong learning and productive participation in professional and social life. It encompasses the recognition of information needs, access to information, their evaluation, storage, efficient and ethical use, the design and communication of new knowledge. It is determined by the dynamics of the development of society and therefore every significant change in the information environment reflects both the contents and the functionality of information literacy. This paper establishes the interrelationships and differences between the various concepts of contemporary literacy and information literacy, bringing them into mutual relationship and identifying their significance in the modern information society. The concept of information literacy and its elements is explained in detail in order to foster the development of the ability to use information skills in education, workplace and active participation in society. The term computerization of the school and its characteristics is mentioned. The paper also focuses attention on problems associated with information literacy. Then, the concept of lifelong learning is linked to information literacy and is put into its context. In this regard, the positive effects that both concepts can contribute to the behavior of a person are the benefits of learning outcomes and a positive impact on the quality of life of a person who has adopted them. However, it also described the difference between these concepts which concludes that the best results are being achieved by combining both concepts, which means developing information literacy from the earliest age, acquisition of information competences and stimulation of interest and awareness of the importance of lifelong learning. There are also the apparitions that the information follows from its first appearance in the West as well as the fact about its influence on the creation of a contemporary social relationship called the "information society". Data from various researches on information literacy are presented and the concept itself is linked with the teaching profession, general education and beeing a student.