The article examines the role of the human factor in the modernization of the Russian economy. The attention is focused on the problems in the socio-economic development of the country and characterized by a structural imbalance in the economy, the huge inequalities in various segments of the population, deprofessionalization at the end of XX century. Deterioration of the level of education, high mortality rates, etc. There are the results of the ratings of the various countries of the world and Russia’s place among them; the indices of human potential development, accepted for inter-country comparison, including evaluation of life level, education and life duration as main constituents of human potential on the research territory. Scheduled tasks to achieve the 2020 strategy, including the development of a system of raising the level of education, professional training and retraining, improving the quality of human resource management, system development for attracting interests of people for country’s economy’s modernization, stimulate business activity and increase public confidence in the institutions of civil society, the growth of people’s income, modernization of public health, creation of mechanism aimed at elimination of corruption and other abuses.