Abstract: The development of ontological engineering as an independent and promising research area involves the improvement of existing and the development of new, more effective approaches for ontology creation. The research in this area are focused on the reduction of expert “manual” labor share during the creation of ontologies, the provision of flexibility and the simplicity of change and result scaling. Thus, the researchers developed a new approach to the construction of subject domain ontologies, assuming use of visual graphic analytical models as a source of knowledge about a subject area in terms of “unit-function-object” approach (UFO model). The results of performed study allowed to make the conclusion about the relationship of system object approach (UFO-approach) principles and ontological engineering and in particular about the possibility of UFO model conversion in a formalized description of ontologies using specialized languages.