Introduction. Socio-economic development of modern Russia is possible only through the implementation of the idea of self-development of the regions on the basis of the effective use of their economic potential. A study of the problem is finding the most effective ways of harmonizing economic, financial relations, search for ways to overcome the financial and economic crisis in Russia and the trajectory of economic growth. Theoretical analysis. The article emphasizes that the self-development of the regions helps to activate the use of their economic potential, obtain the necessary economic and financial resources, contributes to creating the conditions for the transfer of the regional economy in the mode of financial selfsufficiency based on the best use of available resources. Justified, that certain regions have objective advantages in the implementation of the concept of self development through such modalities as nature, climate, geography, structure, implementation of major government programmes on their territory, etc. at the same time, it is proved that not every region has a capacity for self-development, no matter what the economic potential it has. Results. This study provides an opportunity to assess the emerging process of self development regions, taking into account the use of their economic potential