Introduction . The thorough theoretical works and managerial measures of solving the agrarian question in the Russian Empire in the second half of the XIX century that were developed and implemented by M. Bunge (1823-1895), are relevant at the present stage in reforming land ownership in Ukraine. Purpose. The aim of the study is to analyse the development of the main theoretical views of M. Bunge on agrarian relations and his attempts at practical implementation of scientific developments in state activity. Results. It was researched that in M. Bunge’s concept the agrarian question covered a wide range of problems: land tenure, land use and land ownership; organization of repurchase transactions through credit; adaptation of the rural economy to the new market conditions of the management; modification of the feudal tax system. The article analyses how M. Bunge while being the Minister of Finance of the Russian Empire interpreted these problems and what ways of solving them he suggested and implemented. It is shown that the financial and economic regulation of the agrarian question determined the dynamics of the adoption of new laws. Originality . The development of M. Bunge’s scientific views on the agrarian question and the practical realization of these views in practice of managerial financial and economic activity are generalized and systematized for the first time. It is proved that M. Bunge’s approach to the agrarian question was complex, reflected the interrelation of the rural question with various tasks of the internal socioeconomic policy of the empire and covered the problems of the agrarian sphere as a whole. The deviation of the practice of reforming agrarian relations from the legal norms and the influence of subjective factors on the legal framework are shown. Conclusion. A thorough theoretical foundation and critical analysis of the financial and legal policies of Western countries contributed to the formation of M. Bunge’s own program of agrarian transformation. His scientific views evolved from the classical political economy regulations to more active state intervention in solving the problems of agrarian sphere. In M. Bunge’s conception, the agrarian question covered a wide range of problems and was connected with various directions of the internal policy of the state and the corresponding legislative base