The paper examines the relation between the public realm and revolution, the two central concepts of Hannah Arendt’s political philosophy. This relation plays a key role in Arendt’s theory of revolution, since the key purpose of a revolution is the liberation from oppression and the achievement of freedom, and the destruction of an old political realm and the creation of a new one, both of which are needed for the manifestation of free action. The main goal of our study is to analyze Arendt’s idea of the influence of revolutions on the public realm by examining its theoretical and practical scopes. In order to verify the conclusions concerning the actual applicability of Arendt’s theory of revolution, we analyze several cases of modern revolutions from that standpoint. Arendt’s arguments concerning the causes of the failures of revolutions, made on the basis of several historical examples of revolutions from the 18th to the mid-20th century, are largely justified, even though these arguments still can be challenged to some extent. On the other hand, the analysis of the concrete examples demonstrates the limits of the applicability of this theory as a model of a description of contemporary revolutions. Although the theory has a number of significant advantages, it is still in need of considerable revision.