Abstract: This article is dedicated to the agricultural entrepreneurship in Lower Volga Region over the period of 1861-1899. The subject of this research is the modernization process of the former landed estates (both, remained in the right of noblemen, as well as fully or partially passed into the hands of the representatives of other social classes) and open market of production distribution. The object of this research is the diverse economies (differ in size, belonging to the owners of various social classes), as well as the key statistical indexes of agrarian sector of the Lower Volga Region. The author turns attention to the development of primary industries (crop husbandry, animal husbandry, and forestry) in the conditions of post-reform Russia. Among the main conclusions is the evidence of transformation of the former serfdoms into the fairly profitable economies. The scientific novelty consists in describing and comparing the economies of various size and owners of different social classes, which allows talking about the objective character of agrarian modernization process.