The LNOC is an autonomous non-profit public organization that belongs to the global Olympic Movement and unites all the national Olympic sports federations that are members of international federations.

The LNOC conducts its activities in accordance with the Constitution and legislation of the Republic of Lithuania, the Olympic Charter, the World Anti-Doping Code, the decisions of the International Olympic Committee (IOC), and the LNOC regulations.

The LNOC must preserve its autonomy and resist any pressure, including political, religious, and economic, which could prevent it from adhering to the principles of the Olympic Charter.

The LNOC delegates athletes for representing Lithuania at the Olympic Games and other Olympic events - the European Games, the Youth Olympic Games and Olympic Festivals. It also provides financial support for athletes and funds the activities of sports federations, gives Olympic scholarships to athletes, conducts programmes for raising the qualifications of sports and sports medicine specialists, and encourages the development of sports science and medicine.

The LNOC supports and conducts Olympic education projects, promotes gender equality and fair play in sport, develops sports for everyone, promotes the Olympic Movement and helps to make its history, and takes care of prominent people who have contributed a lot to the Olympic Movement.

The LNOC’s activities are funded by UAB Olifėja (the LNOC owns 51% of Olifėja’s shares), the International Olympic Committee, sponsors and partners, and the LNOC’s subsidiary organization the Lithuanian Olympic Fund.

The LNOC’s budget for 2019 was EUR 10.16 million. Based on the LNOC’s activity and budget plan for 2019, about 80% of the budget would be spent on funding the Olympic sports. The remaining 20% of the budget go towards funding the Olympic programmes, the partial funding of the Lithuanian umbrella sports associations’ programmes, target subsidies of the IOC and the EOC, funding of organizational activities, awards, and the activities of the LNOC’s directorate.