The article examines theoretical foundations of socio-economic consequences of land reform in Ukraine. Prospects and possibilities for opening of the market of agricultural land in Ukraine through foreign experience in land reform are analyzed. It is determined that threre are a lot of agricultural enterprises, which use agricultural land mainly for maximum self-enrichment, while neglecting norms of rational land use. It is determined that attracted capital will be played the critical role in the process of agrarian reform, which within the legal framework of the mechanism of circulation of agricultural land will be used by all participants, namely the state and owners / sellers with buyers / tenants. The effectiveness of implementation and functioning of the land market will be carried out on the basis of the established scientific base, the operating activity of state bodies and taking into account the interests of market participants. The level of centralization and decentralization of land potential management is taken significant value in foreign countries, representative bodies of territorial communities have specific powers for land use, organizational and legal forms of land use and forms of ownership of land resources are exceptional. It is determined that results of land reform are assessed by identifying the social, economic and environmental consequences, which are considered in physical and qualitative terms. The consequences of land reform are manifested in real economy and have the long-term impact not only on it but also on life of society in general. Totally, this will concern not only the regulatory implementation of the rules for organizing of the market of agricultural land, but also the practical aspect of ensuring the implementation of land reform.