The Battle of Midway, according to the historiography of naval warfare, is considered as one of the most important events in the Pacific Ocean campaign. The Japanese Empire in order to implement their strategic plans used the most efforts and resources. The events that took place between 4 and 6 June 1942, contributed significantly to the decline in offensive capabilities of the Empire. The aircraft carriers involved in the battle were considered the best units of the Combined Fleet. Indecisiveness of commanders, with a total fiasco of intelligence operations, and too much fragmentation of forces directly contributed to the loss of all ships of the 1st and 2nd Aircraft Carriers Divisions. These units having a great potential and the best trained crews were supposed to tip the scales of victory in favor of Japan, but it did not happen. Severe loss of the stem of the fl eet has reduced considerably the perspectives of the expansive empire, but it did not mean an outright victory of the United States in this war. The campaign in the Pacific continued, but Japan until the end of the struggle did not manage to fully rebuild the military potential of its fleet.