The article exposes diverse historical-philosophical meanings of the concepts of praxis and practice. Using the works of Aristotle, I. Kant, G.W.F. Hegel, K. Marx, H. Lotze, and H. Arendt, the author demonstrates the main ways of distinguishing between these two notions. The article clarifies meanings of praxis and prudence in Aristotle’s philosophy. The crucial transformation of the sense of practice in classical German philosophy, its further neo-Kantian and neo-Hegelian interpretations are also considered. The author reveals a range of categorical forms of comprehending the practical and traces the basic directions of the development of definitions of praxis and practice, indicating the historical-philosophical contexts of their evolution. The article compares the conceptions of the acting subject developed by I. Kant, G.W.F. Hegel, K. Marx, and H. Lotze. Special attention is given to the explication of H. Lotze’s practical philosophy in building and distributing the conception of active life. Marxist and Lotzean approaches to praxis are compared, and their role in the formation of its current interpretations is revealed. These interpretations are problematized, taking into account the partly reconstructed initial meanings of praxis in Aristotle’s philosophy. The author justifies the relevance of H. Lotze’s legacy in Russian philosophy, examining the categories of social action and active life, the acting subject and society. The article demonstrates prospects for their reconsideration in social philosophy by approaching H. Lotze’s practical philosophy. The conclusion highlights consequences of the replacement of the Aristotelian definition of praxis with the Lotzean version, the possibility and necessity of reproducing the initial sense of praxis as different from practice in diverse historical-philosophical interpretations.