In the paper I put the question whether libertarianism has its own ethics, and so can we talk about libertarian ethics, or rather, it refers to other, existing ethical positions, and that therefore we have to deal only with the ethics of libertarianism. The subject of discussion will libertarianism in the narrow sense, and I will discuss two of the most representative of the so-understood ethical concepts of libertarianism: Murray N. Rothbard and ans-Hermann Hoppe. As regards ethics we will understand it as an art of individual happy life (eudaimonia). Considerations will lead us to the conclusion that libertarian ethics does not exist, and we can talk only about the ethics of libertarianism, which either refers to the doctrine of natural law, or to the ethics of communication.