The article replies to the question, whether the advertisement can exist without ethical principles or ethics should be the basis of the advertisement. One can say that the ethical opinion of the advertisement does not depend on content and the form of advertising content exclusively, but also on recipient's consciousness. The advertisement appeals to the emotions more than to the intellect, thus restricting the area of conscious and based on rational premises choice, so it is morally bad. It is not that the moral evil immanently underlines the advertisement, but it concerns the mechanisms which cause that the advertisement turns out to be effective. The only admissible form of the advertisement would be the reliable full information about the advantages and flaws of the concrete advertised product. The only admissible form of the advertisement would be the reliable full information about the advantages and defects of the concrete advertised product. The most serious difficulty connected with the ethical opinion of the advertisement is the fact that the advertisement is the indispensable link of the present economy, and everyone who accepts the free market and perceives the positives of the economic growth, should also accept the advertisement. The advertisement constitutes the element of the economic activity, so in consequence the responsibility first of all lies with enterprises for its far-reaching results.