The article systematically considers traditional and modern approaches to the definition of property as an economic phenomenon. The general and special in relation to property in the 21st century are shown. In particular, the author notes an increase in the value of ownership of functions and “dispersed” forms of ownership in the network economy, as well as a wide range of objects of property relations, which includes the entire set of economic goods — material means of production, the natural environment, and consumer values, information and social conditions of production, production and social abilities of individuals and the production and socio-economic functions themselves, information and knowledge. The definition of property as a political and economic category is given.