When i try to run my project i get next exception stack:
I can't understand what's the problem, cause i've "imported" all required Hibernate core libraries.

In order to work you must have in the class path the following jars:

slf4j-api-1.5.3.jar
slf4j-log4j12-1.5.3.jar

The classes from those jars are need it at runtime not at compilation time.

Alexandru, why then ain't they provided in hibernate required collection of libs?

slf4j-api-1.5.3.jar - i've put this one from the beggining, cause i found it in the "required" directory of the hibernate distribution. THe only difference is that there is version 1.5.3, but it doesn't matter. So, i added second library
slf4j-log4j12-1.5.2.jar in the classpath, but it doesn't work anyway. It gives me another exception:

Hi,

I'm facing the same problem which u mentioned here.Please find my trace here.

27 Sep 2010 14:14:46 ERROR - Hibernate Session Factory Creation failed
java.lang.NoClassDefFoundError: org/apache/log4j/Level
at org.slf4j.LoggerFactory.bind(LoggerFactory.java:121)
at org.slf4j.LoggerFactory.performInitialization(LoggerFactory.java:111)
at org.slf4j.LoggerFactory.getILoggerFactory(LoggerFactory.java:268)
at org.slf4j.LoggerFactory.getLogger(LoggerFactory.java:241)
at org.slf4j.LoggerFactory.getLogger(LoggerFactory.java:254)
at org.hibernate.dialect.Dialect.<clinit>(Dialect.java:85)
at sun.reflect.NativeConstructorAccessorImpl.newInstance0(Native Method)
at sun.reflect.NativeConstructorAccessorImpl.newInstance(Unknown Source)
at sun.reflect.DelegatingConstructorAccessorImpl.newInstance(Unknown Source)
at java.lang.reflect.Constructor.newInstance(Unknown Source)
at java.lang.Class.newInstance0(Unknown Source)
at java.lang.Class.newInstance(Unknown Source)
at org.hibernate.dialect.DialectFactory.buildDialect(DialectFactory.java:78)
at org.hibernate.dialect.DialectFactory.buildDialect(DialectFactory.java:42)
at org.hibernate.cfg.SettingsFactory.determineDialect(SettingsFactory.java:426)
at org.hibernate.cfg.SettingsFactory.buildSettings(SettingsFactory.java:128)
at org.hibernate.cfg.Configuration.buildSettings(Configuration.java:2009)
at org.hibernate.cfg.Configuration.buildSessionFactory(Configuration.java:1292)
at com.ballydev.sds.pcaccountingui.util.AccountingHibernateUtil.<clinit>(Unknown Source)
at com.ballydev.sds.pcaccountingui.dao.LabelMessagesDAO.getLabelRecords(Unknown Source)
at com.ballydev.sds.pcaccountingui.util.LabelLoader.loadLabelsFromDatabase(Unknown Source)
at com.ballydev.sds.pcaccountingui.util.LabelLoader.getLabelValue(Unknown Source)
at com.ballydev.sds.pcaccountingui.AccountingPluginDescriptor.createTree(Unknown Source)
at com.ballydev.sdsui.framework.PluginLoader.createPluginTreeAndMenu(Unknown Source)
at com.ballydev.sdsui.framework.PluginLoader.loadPlugins(Unknown Source)
at com.ballydev.sdsui.framework.action.CommonLoginAction.loadPluginsForUser(Unknown Source)
at com.ballydev.sdsui.framework.controller.LoginController.loginAction(Unknown Source)
at com.ballydev.sdsui.framework.controller.LoginController.keyTraversed(Unknown Source)
at org.eclipse.swt.widgets.TypedListener.handleEvent(TypedListener.java:230)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:66)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:928)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:952)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:937)
at org.eclipse.swt.widgets.Control.traverse(Control.java:2965)
at org.eclipse.swt.widgets.Control.translateTraversal(Control.java:2947)
at org.eclipse.swt.widgets.Display.translateTraversal(Display.java:3870)
at org.eclipse.swt.widgets.Display.filterMessage(Display.java:996)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:2964)
at org.eclipse.ui.internal.Workbench.runEventLoop(Workbench.java:1914)
at org.eclipse.ui.internal.Workbench.runUI(Workbench.java:1878)
at org.eclipse.ui.internal.Workbench.createAndRunWorkbench(Workbench.java:419)
at org.eclipse.ui.PlatformUI.createAndRunWorkbench(PlatformUI.java:149)
at com.ballydev.sdsui.framework.SDSApplication.run(Unknown Source)
at org.eclipse.core.internal.runtime.PlatformActivator$1.run(PlatformActivator.java:78)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.runApplication(EclipseAppLauncher.java:92)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.start(EclipseAppLauncher.java:68)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:400)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:177)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.core.launcher.Main.invokeFramework(Main.java:336)
at org.eclipse.core.launcher.Main.basicRun(Main.java:280)
at org.eclipse.core.launcher.Main.run(Main.java:977)
at org.eclipse.core.launcher.Main.main(Main.java:952)
Caused by: java.lang.ClassNotFoundException: org.apache.log4j.Level
at java.net.URLClassLoader$1.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.net.URLClassLoader.findClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
... 56 more
27 Sep 2010 14:24:53 ERROR - Hibernate Session Factory Creation failed
java.lang.NoClassDefFoundError: org/apache/log4j/Level
at org.slf4j.LoggerFactory.bind(LoggerFactory.java:121)
at org.slf4j.LoggerFactory.performInitialization(LoggerFactory.java:111)
at org.slf4j.LoggerFactory.getILoggerFactory(LoggerFactory.java:268)
at org.slf4j.LoggerFactory.getLogger(LoggerFactory.java:241)
at org.slf4j.LoggerFactory.getLogger(LoggerFactory.java:254)
at org.hibernate.dialect.Dialect.<clinit>(Dialect.java:85)
at sun.reflect.NativeConstructorAccessorImpl.newInstance0(Native Method)
at sun.reflect.NativeConstructorAccessorImpl.newInstance(Unknown Source)
at sun.reflect.DelegatingConstructorAccessorImpl.newInstance(Unknown Source)
at java.lang.reflect.Constructor.newInstance(Unknown Source)
at java.lang.Class.newInstance0(Unknown Source)
at java.lang.Class.newInstance(Unknown Source)
at org.hibernate.dialect.DialectFactory.buildDialect(DialectFactory.java:78)
at org.hibernate.dialect.DialectFactory.buildDialect(DialectFactory.java:42)
at org.hibernate.cfg.SettingsFactory.determineDialect(SettingsFactory.java:426)
at org.hibernate.cfg.SettingsFactory.buildSettings(SettingsFactory.java:128)
at org.hibernate.cfg.Configuration.buildSettings(Configuration.java:2009)
at org.hibernate.cfg.Configuration.buildSessionFactory(Configuration.java:1292)
at com.ballydev.sds.pcaccountingui.util.AccountingHibernateUtil.<clinit>(Unknown Source)
at com.ballydev.sds.pcaccountingui.dao.LabelMessagesDAO.getLabelRecords(Unknown Source)
at com.ballydev.sds.pcaccountingui.util.LabelLoader.loadLabelsFromDatabase(Unknown Source)
at com.ballydev.sds.pcaccountingui.util.LabelLoader.getLabelValue(Unknown Source)
at com.ballydev.sds.pcaccountingui.AccountingPluginDescriptor.createTree(Unknown Source)
at com.ballydev.sdsui.framework.PluginLoader.createPluginTreeAndMenu(Unknown Source)
at com.ballydev.sdsui.framework.PluginLoader.loadPlugins(Unknown Source)
at com.ballydev.sdsui.framework.action.CommonLoginAction.loadPluginsForUser(Unknown Source)
at com.ballydev.sdsui.framework.controller.LoginController.loginAction(Unknown Source)
at com.ballydev.sdsui.framework.controller.LoginController.keyTraversed(Unknown Source)
at org.eclipse.swt.widgets.TypedListener.handleEvent(TypedListener.java:230)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:66)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:928)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:952)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:937)
at org.eclipse.swt.widgets.Control.traverse(Control.java:2965)
at org.eclipse.swt.widgets.Control.translateTraversal(Control.java:2947)
at org.eclipse.swt.widgets.Display.translateTraversal(Display.java:3870)
at org.eclipse.swt.widgets.Display.filterMessage(Display.java:996)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:2964)
at org.eclipse.ui.internal.Workbench.runEventLoop(Workbench.java:1914)
at org.eclipse.ui.internal.Workbench.runUI(Workbench.java:1878)
at org.eclipse.ui.internal.Workbench.createAndRunWorkbench(Workbench.java:419)
at org.eclipse.ui.PlatformUI.createAndRunWorkbench(PlatformUI.java:149)
at com.ballydev.sdsui.framework.SDSApplication.run(Unknown Source)
at org.eclipse.core.internal.runtime.PlatformActivator$1.run(PlatformActivator.java:78)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.runApplication(EclipseAppLauncher.java:92)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.start(EclipseAppLauncher.java:68)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:400)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:177)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.core.launcher.Main.invokeFramework(Main.java:336)
at org.eclipse.core.launcher.Main.basicRun(Main.java:280)
at org.eclipse.core.launcher.Main.run(Main.java:977)
at org.eclipse.core.launcher.Main.main(Main.java:952)
Caused by: java.lang.ClassNotFoundException: org.apache.log4j.Level
at java.net.URLClassLoader$1.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.net.URLClassLoader.findClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
... 56 more

I have the log4j.jar and slf4j.jar's in class path but don't understand why am i getting this error still?

Thanks in advance

Regards
Karthick

Are you sure you have all three jars in the classpath?
Note that slf4j-log4j12 is only a binding from SLF4J to Log4J, so you'll still need Log4J itself (log4j-1.2.x.jar).

slf4j-api-1.x.x.jar
slf4j-log4j12-1.x.x.jar
log4j-1.2.x.jar

Also make sure that all your slf4j-* jars have the same version.

Yes i have the mentioned jars and the slf4j-* jars are same version.