The article highlights the relevance of the educational paradigm problem concerning the practical formation of competences based on the value-orientations of contemporary student youth in the university educational space, the content of the concepts of «competence», «competence approach», as the necessary condition for the upbringing of a highly culturally competent personality is outlined. The essence and content of the competent approach determine values, since the formation of value-orientations is the main goal of upbringing the personality in the university educational space. Optimization of the process of student youth value-orientations formation through the competence approach involves the continuous enrichment of the inner world of the individual. Changes in the value-orientations of student youth emphasize the importance of the whole system of educational work at the university, the search for and introduction of new forms and methods of working with student youth. An important task of the higher education institution is the creation of university educational space, which will promote the creation of conditions for the development of social and creative activity of student youth, their attraction to the values and meanings of social life, national and universal values formation and assimilation by students towards oneself, family, people, creative work, nature, society and the state. At the same time, special attention is given to solving the problems of the formation and development of the unity of the student group, the mutual understanding of students and teachers, the satisfaction of students cultural needs, especially the interest in the national and civic orientations of the student's personality, the needs of each student in constant self-improvement; a positive motivation for students to have a healthy lifestyle, and a desire to participate in community activities at the university. All this will allow more efficiently conduct the educational process at the university.