Regarding time representation the scholars usually distinguish between the general notion of time, the lexical denotation of time and the grammatical temporality. From philosophical point of view time is the universal form of the continual consecutive change of phenomena and it can be objectively divided into past, present and future. At the same moment, time is reflected by man through his perceptions and intellect and is expressed in the language. The individual appraises the consecutive change of things in reference to the moment of his immediate perception or “present moment” and the linguistic content of which is the “moment of speech”. Thus, according to M.Bloch all the lexical time markers, depending on whether they refer or do not refer to the certain point of time, are divided into “present-oriented” or “absolutive” time markers, and “non-present-oriented” or “nonabsolutive” time markers. [1] The absolutive time markers give a temporal characteristic to an event from the point of view of its orientation in reference to the present moment. The non-absolutive time markers are divided into relative and factual. They do not characterize an event in terms of orientation towards the present. Such words and phrases as some time later, before that, after that, at different times etc. are the relative time expressions, which correlate two or more events shown as preceding or following the others, or happening at the same time. The factual expression of time usually reflects the astronomical time of an event and renders this meaning by means of historical landmarks. As a rule, the above mentioned types of time naming are combined and in real speech the denoted event has a very strict temporal characterization. The finite verb generalizes in its categorial forms only the most abstract significations of all the temporal meanings rendered by the lexical denotation of time. The verbal expression of abstract time forms the necessary background for the adverbial contextual time denotation in an utterance. Marking of time without the verbal background would be completely inappropriate except for the cases of short answers, which are elliptical sentences such as “Tomorrow” or “Last year” and usually occur in dialogues. The lexical denotation of time is complementary to grammatical expression of time as it contributes greatly to a more accurate and detailed time representation in the utterance. The function of the lexical time markers in English can be accomplished by different parts of speech and phrases such as: adverbs- yesterday, tomorrow, soon, always, usually, often, seldom, never; noun phrases- early morning, late afternoon, next week, last month; prepositional phrases- in the morning, for a long time. The greater part of the lexical time markers are noun phrases and prepositional phrases functioning as adverbial modifiers of time.