Child poverty refers to various forms of deprivation, including material, educational, health and emotional, and affects many aspects of children's well-being and development. Child poverty can be classified according to its intensity, duration, groups of children which it affects, it`s potential causes, etc., and the above should be taken into account when taking measures to combat and prevent this widespread social problem. The adoption of public policy measures to fight child poverty is also influenced by theoretical approaches of this phenomenon, which can have both positive and negative effects. Child poverty has adverse effects on various aspects of child well-being and development (Ajduković, Dobrotić and Matančević, 2017), this paper seeks to include the results of research dealing with the various consequences and impacts of poverty on children's well-being and development, its long-term and radical traces it leaves on children, while at the same time noticing similarities and differences among the conclusions of these studies. Also, the paper lists the forms of combating child poverty, as well as their disadvantages and advantages and opportunities for improvement. The main guideline of this paper includes considering key aspects of children's lives affected by poverty, different theoretical views of this phenomenon, exploring ways in which poverty negatively affects children's growth and development, and focusing on mechanisms and main actors who are trying to fight these impacts.