The article provides a comparative analysis of conceptual foundations of the Russian and European liberalism of the second half of the XIX century. Theoretical heritage of the classics of the Russian liberal thought K. D. Kavelin and B. N. Chicherin is investigated. The paper aims to compare conceptual foundations of the Russian and European liberalism, to examine their similar features and to identify specificity of the domestic liberal tradition. Scientific originality of the study lies in the fact that the authors determine the basic notions and categories while comparing the Russian and European liberalism of the second half of the XIX century, ascertain originality degree of the domestic liberal thought and discuss whether it would be appropriate to consider the domestic liberal tradition in the context of the western liberal thought. The findings indicate that the Russian classical liberalism, being an integral element of the European socio-political thought, preserved its unique features, the integrity of which constituted national specificity of the Russian liberal ideology.