AbstractThe cosmological constant problem is studied in a two component cosmological model. The universe contains a cosmological constant of an arbitrary size and sign and an additional component with an inhomogeneous equation of state. It is shown that, in a proper parameter regime, the expansion of the universe with a large absolute value of the cosmological constant may asymptotically tend to de Sitter space corresponding to a small effective positive cosmological constant. It is argued that such a behavior can be regarded as a solution of the cosmological constant problem in this model. The mechanism behind the relaxation of the cosmological constant is discussed. A connection with modified gravity theories is discussed and an example o...