The paper explores transformation of the contemporary Cuban model of socialism. The purpose is to ascertain the dynamics of the interpretation of socialism as a mode of production in three different stages. It draws on crucial sources such as the 1976 Constitution of Cuba, its 1992 amended version, and the 2019 Constitution. Each corresponds to one of the three models of development identified in the article: the Marxist-Leninist model, the special period model, and the model of actualisation process. The author also takes a more detailed look at the official documents of the First, Sixth, and Seventh Congresses of the Cuban Communist Party, reflecting aspects of socialism as a mode of production and the role of Marxism-Leninism. The paper examines issues such as forms of ownership of the means of production, changing attitudes towards exploitation, the operation of the socialist principle of distribution “from each according to his ability, to each according to his work”, and the role and scope of the planning sys-tem. The author's methodology rests upon the historical-genetic method and comparative analysis. The study indicates that Cuban socialism as a mode of production has undergone considerable changes over the course of its history. The planning system has lost its scale and short-term planning is being trans-formed from directive to indicative, while general economic policy is moving away from instruments of administrative intervention towards indirect regulation. Mid and long-term planning gets closer to the models of strategies. The actualisation model also legalises private ownership of the means of production, while the special period model views cooperatives as a socialist form of economic management. Although exploitation is condemned, the actualization model integrates it into the social system having legalised wage labour. The socialist principle of distribution is regarded only as a desired principle, but not as a functioning one. Thus, changes in the interpretation of socialism as a mode of production have been enshrined at the official level. Contemporary Cuban socialism has moved away from the Marxist-Leninist model adopted in the 1960s.