This study is divided into three main parts: The first is about position of social representations in the system of present psychology and possibilities of their use for present science and research. The second is trying to explain background of their origin and describes philosophical-sociological roots of this theory. The third part of this paper explores their formal structure. Theory of social representation has never been statistic and hypothetical construct, but has ever been trying to adapt flexibly to always changing context of reality. Social representations are ideas in movement, they are dynamic and open phenomena and their concept is formed and transformed together with the changing context. Theory of social representations helped to transform social psychology into postmodern science, which exceeds borders between psychology, sociology, philosophy, linguistics, theory of systems and cultural anthropology. Social representations are collection of organized and structured knowledges at the level of basic social system. They make the reality clear and safe for us. They give us possibility to orientate in reality easier and to share it with others.