For the first time, the electrochemical determination of neotame sugar substitute on the composite VO(OH) – Squaraine dye has been described theoretically. The correspondent mathematical model has been developed and analyzed by means of linear stability theory and bifurcation analysis. By analysis of the model it was shown that the squaraine dye and vanadium oxyhydroxide may serve as efficient electrode modifiers for neotame electrochemical determination. The linear dependence between the concentration and current is realized in a vast range of parameters. On the other hand, the oscillatory and monotonic instabilities are also viable.