Experimental studies of Raman scattering and the infrared reflection spectra of lithium tetraborate crystals were carried out within a broad temperature range with various polarization geometries. The crystals studied are characterized by record values of radiation resistance, transparence within a broad spectral range including the ultraviolet region, and nonlinear optical properties. A group-theoretical analysis of the vibrational spectra of this crystal was performed and fundamental vibrational terms were assigned to the symmetry types of the point group as well as the polarizations of the corresponding modes. The effective Raman cross section was measured and was found to be one order of magnitude higher than those of the known crystals, in which the stimulated Raman scattering (SRS) was observed. The nonlinear optical and electrooptical coefficients were evaluated and were found to be consistent with the results of independent measurements. The effect of a drastic increase in the intensity of quasi-elastic light scattering at 253 K was registered. It was associated with the phase transition that consists of the disordering of lithium ions with respect to the rigid skeleton. The formation energy for Frenkel defects in the lithium sublattice and the activation energy of the ionic conduction when heating the sample were calculated from the obtained temperature dependences of the intensity of quasielastic and hyper-Rayleigh light scattering.