Abstract: Currently the development of entrepreneurial potential of the youth becomes a priority of socioeconomic policy of the country, as well as a strategic vector in modern higher education. The subject of this research is the essence, content and specificity of entrepreneurial potential of university students. The goal consists in the development of theoretical approaches towards determination and clarification of the concept of entrepreneurial potential of students within the system of higher education. Research methodology is based on the systemic, competence, and subject-activity approach, as well as included the methods of theoretical analysis and summarization of the results of scientific research. The authors examine different approaches towards determination of the essence and content of the concepts “entrepreneurial potential” and “entrepreneurial potential of an individual”. A conclusion is made that under the current circumstances the concept of “entrepreneurial potential of a student”, which would reflect the peculiarities of student as a carrier of entrepreneurial potential, does not exist. Being a subject of educational activity, student is engaged in the process of formation of the own entrepreneurial potential. This defined the need to view student’s entrepreneurial potential inseparably from organizational-pedagogical conditions of the process of its formation as educational. The authors present an original definition of the concept of “entrepreneurial potential of a student” with consideration of the determined peculiarities, which can be used for the development of students’ entrepreneurial potential within the system of higher education.