This new discussion is intended to trace the evolution of social capital in Ukraine for the last 20-30 years and bring out those types of resources which people obtain due to social connections. We tried to find out, how social capital functions in Ukraine, how it rearranges the elements of market mechanism, in which way does it influence the accumulation of human capital. Why is social capital important for eradication of poverty? Is it instrumental in income inequality control and strengthening of social unity? There is certain evidence that communities with high social capital suffer less from criminality, enjoy better health, and are better educated and prosperous. Ukraine could adopt these practices as well, or couldn’t it?