The development of DNA-encoded library (DEL) technology introduced new challenges for the analysis of chemical libraries. It is often useful to consider a chemical library as a stand-alone chemoinformatic object─represented both as a collection of independent molecules, and yet an individual entity─in particular, when they are inseparable mixtures, like DELs. Herein, we introduce the concept of chemical library space (CLS), in which resident items are individual chemical libraries. We define and compare four vectorial library representations obtained using generative topographic mapping. These allow for an effective comparison of libraries, with the ability to tune and chemically interpret the similarity relationships. In particular, property-tuned CLS encodings enable to simultaneously compare libraries with respect to both property and chemotype distributions. We apply the various CLS encodings for the selection problem of DELs that optimally "match" a reference collection (here ChEMBL28), showing how the choice of the CLS descriptors may help to fine-tune the "matching" (overlap) criteria. Hence, the proposed CLS may represent a new efficient way for polyvalent analysis of thousands of chemical libraries. Selection of an easily accessible compound collection for drug discovery, as a substitute for a difficult to produce reference library, can be tuned for either primary or target-focused screening, also considering property distributions of compounds. Alternatively, selection of libraries covering novel regions of the chemical space with respect to a reference compound subspace may serve for library portfolio enrichment.