  The appearance of a new phase of QCD, Quarkyonic Matter in the limit of large
number of colors is studied within Nambu-Jona-Lassinio effective chiral model
coupled to the Polyakov loop. The interplay of this novel QCD phase with chiral
symmetry restoration and color deconfinement is discussed. We find that at
vanishing temperature and at large $N_c$, the quarkyonic transition occurs at
densities only slightly lower than that expected for the chiral transition.
This property is also shown to be valid at finite temperature if the
temperature is less than that of deconfinement. The position and
$N_c$-dependence of chiral critical end point is also discussed.
