The polarization properties of the charmed Lambda^+_c baryon are investigated in weak non-leptonic four-body Lambda^+_c -> p + K^- + pi^+ + pi^0 decay. The probability of this decay and the angular distribution of the probability are calculated in the effective quark model with chiral U(3)XU(3) symmetry incorporating Heavy Quark Effective theory (HQET) and the extended Nambu-Jona-Lasinio model with a linear realization of chiral U(3)XU(3) symmetry. The theoretical value of the probability of the decay Lambda^+_c -> p + K^- + pi^+ + pi^0 relative to the probability of the decay Lambda^+_c -> p + K^- + pi^+ does not contain free parameters and fits well experimental data. The application of the obtained results to the analysis of the polarization of the Lambda^+_c produced in the processes of photo and hadroproduction is discussed.