Inclusive production of Λ -hyperons was measured with the large acceptance NA61/SHINE spectrometer at the CERN SPS in inelastic p+p interactions at beam momentum of 158 GeV/c . Spectra of transverse momentum and transverse mass as well as distributions of rapidity and x F are presented. The mean multiplicity was estimated to be 0.120±0.006(stat.)±0.010(sys.) . The results are compared with previous measurements and predictions of the Epos , U r qmd and Fritiof models.