In modern times, competence of critical thinking and media literacy are becoming concepts which attract attention from national and world's education politics and policy makers. The reason for that is a dynamic and unpredictable technology development and improvement which has contributed mass media and mass culture growth. As the result, the global society is in a need for skills development, for example questioning, analytical skills and information evaluation, which will help people increase their quality of life, and both their personal and professional growth. Great number of authors are focusing on importance of learning and knowing these two concepts, but just a few authors are focused on defining the relation between the concepts. There are also noticeable the differences and inconsistencies in defining the concepts in different papers, as well as the confusion in defining their connection. Forming the basis in concept defining is important so that theoretical and methodological frameworks can be created, which makes a foundation for later researching, as well as teaching the concepts. Overall, the main purpose of this paper is to determine and define concepts critical thinking competence and media literacy, to highlight their characteristics and elements, to determine the relation between two concepts and to define related terms. The purpose is also to emphasize the importance of developing critical thinking and media literacy and the role which education system has in their teaching. Developing critical thinking competence and media literacy will also help in better coping with the technological age and better information evaluation which are surrounding us on every platform. In order to achieve the purpose of the papers, based on the analysis of connection between the two concepts by different authors, a conceptual analysis of the critical thinking competence and media literacy was made. In conclusion, it can be said that critical thinking competence and media literacy are two interfering concepts which both have common elements, but at the same time are also developing as individual concepts. Moreover, elements of critical thinking competence are significant and even crucial for media literacy development.