Sažetak The paper describes the basic theoretical hypotheses used to interpret the phenomenology of anxiety sensitivity as well as the results of contemporary research in this field. Anxiety sensitivity is described as the fear of anxiety symptoms and physical sensations associated with anxiety, stemming from the fear that these symptoms and physical sensations may have negative physical, psychological and social consequences. Anxiety sensitivity represents basic fear and the specific tendency to react with fear to sensations which are an integral part of anxiety, fear or panic. The purpose of the paper is to present some contemporary trends and problems in the interpretation of anxiety sensitivity, including anxiety and anxiety disorders. The constructs of anxiety sensitivity and related psychological constructs have been described within the framework of several anxiety theories, particularly Reiss' theory of expectation and sensitivity, in the works of Richard McNally, Scott Lilienfeld and Steven Taylor and in the cognitive theories of panic disorder of David Clark, Aaron Beck and David Barlow. Of particular importance is the need for a specific approach to the research and interpretation of the development of individual anxiety disorders. This approach offers numerous guidelines for research in the field as well as a better understanding of anxiety phenomenology in general.