This paper shows a Proposal for a Council Regulation of the establishment a European Public Prosecutor's Office and possibilities, advantages and deficiences of forming the European Public Prosecutor's Office. The paper is conceived of a few parts. The introduction is based on the Lisabon Treaty which is thought of as a basis for forming the European Public Prosecutor's Office and budgetary resources of the European Union. Further on there are ways of financing the European Union and the most common criminal actions at the expense of the European budget. The second part of the paper states aims of forming the Office, ways of electing the European Public Prosecutor and what responsibilities he would have. The main reason for establishin the Office is the protection of budgetary resources of the European Union because research has shown that the existing authorities of the European Union like Eurojust can not secure enough protection. So suggestion regulation of the council for forming the Office of the European Public Prosecutor is forming an Office from Eurojust, their cooperation and exchange of information. Emphasis of the paper is on the activities of the European Public Prosecutor, especially the penal prosecution. The task of the European Public Prosecutor is to investigate, penally prosecute and to indict. European Public Prosecutor starts an investigation if there is reasonable doubt of felony that is in the jurisdiction of the Office. In its activity it has a priority above national authorities to ensure consistency. Closing part of the paper expresses the opinions of experts and the attitude of the Republic of Croatia in relation to issues in forming of the European Public Prosecutor's Office.