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Šarakauskas started his career in SSK–Perlas Vilnius, which played in the LKAL league. He went undrafted at the 2004 NBA Draft. In 2006, Šarakauskas moved to BC Sakalai of the LKL league. He instantly became one of the leaders on the team, averaging 10.8 points per game and 6.6 rebounds per game his rookie season in the league. Throughout his three–year stint with Sakalai, Šarakauskas maintained his status as an important player.
Three seasons later, Šarakauskas signed with the more dominant BC Šiauliai. Despite playing alongside better players, Šarakauskas soon became a starter for the team. He was one of the key players for Šiauliai during the 2010–11 season when he nearly averaged a double–double in both the LKL league and the BBL league. In 2012, he moved to BC Neptūnas.
In the summer of 2011, Šarakauskas led his national team to a fifth place at the 2011 World Military Basketball Championship.
Šarakauskas is a 2.04 meters (6 feet 8 inches) tall big man who can play the power forward and the center positions equally well. He is a good rebounder for his size, averaging nearly one rebound every four minutes on the court in his entire career. Besides being a good free–throw shooter, Šarakauskas also attacks the basket with accuracy; his field goal percentage is usually over 55% in the LKL.