Various alkali metal salts were applied as initiators for epsilon-caprolactone anionic ring-opening polymerization in tetrahydrofuran at room temperature. It was observed that potassium methoxide (MeOK), potassium isopropoxide (i-PrOK) and potassium tert-butoxide (t-BuOK) nonactivated or activated by 18-crown-6 (18C6) initiated polymerization mainly by deprotonation of the monomer. In the case of potassium hydride (KH), its basicity increased with the ability of the ligand for cation complexation. For example, KH without ligand or with weak ligands for K+ as 12C4 reacted exclusively by ring opening. However, in the presence of strong ligands, as 15C5, 18C6 or cryptand C222, basicity of H- increased with the ability of the ligand for cation complexation. In the last case,similar to 32% of the monomer was deprotonated. In these systems, gaseous H-2 evolved during the initiation. Deprotonation of the monomer by some initiators resulted in macromolecules with reactive aldehyde group or lactone ring as starting groups. They took part in the reaction with potassium alkoxide active centers of growing chains leading to the formation of branched poly(epsilon-caprolactone)s. Sodium hydride (NaH) was inactive, but in the presence of 15-crown-5 or 18-crown-6 initiated polymerization exclusively by ring opening. MALDI-TOF mass spectrometry supported with C-13 NMR and SEC was used for analysis of the polymers obtained. Mechanism of the studied processes was proposed and discussed.