In this review are summarized results of lithium triborate LiB₃O₅ (LBO) crystal growth and attempts at the improvement of material quality. Typical growth defects are presented in connection with technological conditions and chemical composition of the high-temperature solutions used. The phase stability of LiB₃O₅ compound is discussed. An investigation on the growth units of lithium triborate is given. Growth defects in LBO as inclusions, cracks, dislocations, oxygen vacancies, H₂O content in the structure are considered. The question of surface stability of the LiB₃O₅ crystals in growth process, at  elevated temperatures and at room temperature is also discussed.