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 process an FTM message received from a responder station, the first FTM message comprising a first field comprising a first Message Authentication Code (MAC); to process a second FTM message comprising the first field, a second field, and an FTM time value corresponding to the first FTM message, the first field comprising a second MAC, and the second field comprising the first MAC; and to determine whether or not to use the FTM time value for an FTM measurement, based on an authentication of the responder station according to the second MAC.