Abstract: In physiological conditions globular protein molecules assume a specific native conformation uniquely determined by its amino acid sequence. Upon environmental changes the protein molecules undergo reversible unfolding (order losing) and folding (order gaining) transitions, which is similar to the first-order phase transition. Pathways of folding have been intensively studied in the hope of deciphering the code that amino acid sequences carry as to the threedimensional structure of proteins. A strongly simplifiedlattice model of proteins has been found to be a powerful theoretical tool to simulate the dynamic process of the folding and unfolding transitions. The results of the simulation indicate the existence of stochastic pathways of folding.