Poverty is a multidimensional and complex phenomenon and is considered to be one of the biggest global problems affecting as much as one fifth of the world’s population. Compared to the period of 10 years ago, poverty at the European level is in a slight decline, but the figure is still quite high. Of particular concern is the fact that young people are defined as one of the most vulnerable groups with a high risk of poverty (as much as 22,1%). In this paper, the problem of poverty and well-being of young people is argued. The position of young people in pre-industrial and modern industrial societies is briefly presented, and the key differences in the transition from youth to adulthood now and then are stated. The concept of young people as a vulnerable group with increased risk of poverty is also defined. Some specifics of youth poverty are also mentioned, and poverty, its basic concepts and types are conceptually determined. Particular attention is devoted to the presentation of youth poverty through the lenses of two selected theoretical approaches. Selected statistical indicators of youth poverty at the European and Croatian level are highlighted. Some of the basic causes, consequences and protective factors of youth poverty are listed, with special emphasis on the NEET population, as well as guidelines for successfully combatting youth poverty and improving their social well-being and position in society.