Terry Eagleton is a distinguished literary critic and a social intellectual of this age. He has a profound comprehension of Marxist Criticism. In this article, ideas of Terry Eagleton are analyzed which are concerned to Marxist Criticism. Here, significance Marxist Criticism, its relation with society and literature, different objections on it and its profundity is examined with reference to Terry Eagleton's theory; to highlight crux of Terry Eagleton's ideology. The article aims to present distinctive aspects of literature regarding development of the theory, to analyze different concepts related to it and to highlight the role of society and life in literary writings at the present time in view of Marxist's principles.