This thesis addresses the presentation of the history of privateering in England and the role of the privateers under Queen Elizabeth I. In the latter half of the 16th century, King Philip II of Spain was the most powerful man in Europe and his territories in the continent and in the New World brought him enormous wealth. At this time, England was a relatively small country, and not a powerful or wealthy one. Why did then Philip spend a lot of money to build the largest naval force ever seen against England? What did Elizabeth do to keep the King in bay until the 1580s? Why did Elizabeth I accept the service of privateers and what forced her to employ them? What damages did they cause to the Spanish Empire and what was their role in the bankruptcies of Spain? Why did Philip II had let Drake to raid his territories up to 1588?