This study aims to investigate the relationship between the inflation rate، money supply, and gross domestic product (GDP) in Libya during the period 1994–2022. The research adopts a descriptive approach to outline this relationship for the period 2005–2017, in addition to an analytical econometric approach to examine the relationship between inflation—as the dependent variable—and both broad money supply and real GDP as independent variables over the period 1990–2022, utilizing the E-Views software. The findings reveal the existence of a cointegration relationship among the variables under study. Results from the ARDL model indicate that inflation exhibits dynamic behavior, significantly influenced by its past values. Moreover, the money supply has a dual and statistically significant impact on inflation, suggesting that monetary policy faces challenges in controlling inflation levels. On the other hand, real GDP was found to be statistically insignificant, implying that the effect of economic growth on inflation is limited in the short run within this timeframe. One of the main recommendations of the study is for monetary authorities to adopt a monetary policy that takes into account time lags in the transmission of money supply effects to the general price level. Furthermore, the study encourages researchers to incorporate the exchange rate and political stability into the econometric model................ Keywords:.............. Monetary Policy, Money Supply, Gross Domestic Product, Inflation, ARDL, Dynamic Behavior، Time Lags.