The collection contains about 500 works of art, including paintings, graphics, sculptures, art photographs and drawings.
Geographically, the largest part of the collection is made up of works by artists from the former Soviet republics of Russia, Ukraine, Lithuania, Latvia, Estonia and others. It is complemented by works donated by artists from France, Germany, the US and other countries, the museum said in a press release on Monday.
The term "non-conformist art" refers to art produced in the former Soviet Union between the 1960s and 1980 as a response to socialist realism, the official art form of that time.
Tarasov's collection features, among other, works by internationally renowned artists, such as Ilya Kabakov, Viktor Pivovarov, Erik Bulatov, Ivan Chuikov, Pavel Pepperstein and many others, as well as by more than 30 Lithuanian authors.
The museum notes that all art works in the collection were gifts to Tarasov.
Arunas Gelunas, the director of the Lithuanian Art Museum, expects the "unique" collection which "has no analogues in the world" to help the museum "attract visitors not only from neighboring countries, but also from the world's art centers such as Berlin or London".
Some works from the collection are planned to be put on display at the Museum of the Radvilas Palace in Vilnius in May.