This publication suggests a holistic framework for assessing farm competitiveness, and analyses competitiveness of different type of Bulgarian farms during EU CAP implementation. First, it presents a new approach for assessing farm competitiveness defining farm competitiveness and its three criteria (efficiency, adaptability and sustainability), and identifying indicators for assessing the individual aspects and the overall competitiveness of farms. Next, it analyzes evolution and efficiency of farming organizations during post-communist transition and EU integration in Bulgaria, and assesses levels and factors of farms competitiveness in the conditions of CAP implementation. Third, it assesses the impact of EU CAP on income, efficiency, sustainability, and competitiveness of Bulgarian farms.