Some demonstrative embodiments include apparatuses, systems and/or methods of Fine Timing Measurement (FTM). For example, an apparatus may include circuitry and logic configured to cause an initiator station to transmit an FTM request message to a responder station, the FTM request message comprising a challenge token; process an FTM measurement frame received from the responder station, the FTM measurement frame comprising a security token, which is based on the challenge token; and authenticate the responder station based on the security token.