The article deals with the phenomenon of social memory in the context of the general problem of identity formation. Identity is discussed as the result of interaction between the individual and society. The article emphasizes the social basis of identity. Individual lives in society and depends on it. He has to check his own opinion of himself with the opinions of others. He constructs the identity on the expectations of society. The author emphasizes that identity as a relationship of the individual and society is supported by social memory. Social memory is a unique phenomenon of the social life and activities. Social memory supports the continuity of the identity of the individual and his dependence on a social context. Individual supplements personal memories by social memories thereby building its identity. The phenomenon of social memory is needed for a full understanding of the process of the identity creation. So the author emphasizes the social aspect of the process of identity and value of the memory mechanisms for its implementation. The point of view of this article is that the phenomenon of social memory is discussed as a necessary element connecting the individual with the social environment and ensuring the continuity of its dynamics and representations of himself.