Abstract: The study substantiates the need for value orientations study among Russian college students due to the changes in economic and political foundations of Russian society. Theoretical approaches to the classification of values are considered. We considered the researchers approach to the determination of values based on the modification of the classification proposed by M. Rokeach. We presented the results of valuable orientations sociological research among the students studied at the faculty of business and service of the Belgorod National Research University. We revealed the peculiarities of value importance perception based on respondent gender and the length of stay in the student community. It was established that there were changes in the value system of the Russian youth during the years of reforms in the Russian society, lower respondents evaluated the the importance of certain values traditionally attributed to Russian culture decreased and on the contrary, the recognition of value importance corresponding to the modern realities of Russian life increased.