More than decade-lasting economic reforms and structural adjustment have had serious social consequences and costs that may have negative impact on the Baltic States reintegration into Europe and joining the EU. The main social consequences of the transition and EU integration processes are the increasing inequality, poverty, social exclusion and unemployment as the new phenomenon for the post-socialist societies. The paper aims to analyze poverty and social exclusion as the main consequences of rapid transition processes in the Baltic States. Both, direct and indirect approaches are used for assessment of poverty. The assessment results allow us to conclude that at the present time the Baltic societies are still characterized by the deprivation and the people’s adjustment to the quick changes caused by the transition and integration processes is not finished yet. In order to solve the possible negative social consequences of the rapid transition and European integration processes big investments into human capital and development of the social protection systems according to the national strategies oriented to sustainable development are unavoidable.