The article is dedicated to one of the most current issues in sino-japanese relations - the issue of territorial claims of Senkaku (Diaoyu) islands. The author provides a historical background of the dispute based, on one hand, on the points brought forward by PRC after World war II and on Japanese objection on the other. Dynamics of dispute's gradual exacerbation from the end of 20lh to the first decade of 2 Iя century, caused by discovery of rich oil and gas supplies under the isles, is analyzed.