Charophytes or stoneworts (Charales, Characeae) are submerged green macroscopic algae of great importance for the environmental and economic sustainability of the aquatic ecosystem of Lake Skadar/Shkodra. In the course of many years of research of these algae in the Montenegrin and the Albanian part of Lake Skadar/Shkodra, 30 taxa of charophytes have been registered in the rank of species, forms and varieties. These taxa belong to the four genera of the Characeae family existing in the lake – namely, Chara, Nitella, Tolypella and Nitellopsis. The largest number of taxa belongs to the genus Chara, namely, 12 species, 3 forms and 2 varieties, 10 species belong to the genus Nitella, 2 species belong to the genus Tolypella and, finally, only 1 species belongs to the genus Nitellopsis. The ecological and phytocenological characteristics of each taxon, as well as the hydrological and geomorphological characteristics of their finding sites, are presented in order to emphasize the fact that Lake Skadar/Shkodra is one of the most significant charophyte diversity centres in the Balkan Peninsula. All the data presented in this study are based on our own field investigations, as well as herbarium and literature surveys.