Annotation. The region is an important and largely determining part of the overall national socio-economic system, which has a complex internal structure, its elements form the interacting subsystems of business, government and society with direct and feedback connections.?When classifying subsystems, we highlighted a logical-structural diagram of the innovative potential formation of the region’s socio-economic system, which allowed not only to analyze and evaluate the level of development, but also to identify priority directions for its increase, including the development of investment activity.?The paper considers the issues of accumulation, analysis and development of innovative potential of the socio-economic system of the region. Rating estimates of the innovative potential of the regions of the Volga Federal District are given, their ranking and comparative assessment are carried out. Promising directions of development are identified, strategic directions of the state innovation policy are determined.