The aim of the article. The aim of the study is to determine conceptual bases of education system forming in knowledge economy. Under knowledge economy, we mean an economy that built up on knowledge of a new format. The economy of knowledge is formed innovation system where competitive advantages are created due to the preparation of highly qualified specialists who possess such groups of key skills: professional quality, global quality of leadership and entrepreneurial qualities. To date competition shifting towards knowledge. Future of company is determined by it\'s skill creating and to accumulate knowledge. Nature of knowledge that are needed today in the labor market is different. If earlier knowledge has materialized in the form of clear instructions, standards and technology, and consequently, knowledge was more formal character then today speed the creation and updating of knowledge soared, and their volume significantly increased. There were changes in in the content of traditional occupations in the system of values in choosing a career. All this requires a new specialist who capable to think strategically innovative, and puts forward relevant requirements for a system of education. The results of the analysis. Educational system meets demand of modernity and integrates into complex \"education-research-innovation\" because functions of universities must modernize and corrected taking into consideration the emergence of new conditions and needs that require the flexibility of the system. Thus, one can identify the following main tasks facing the education system: 1) update the content of educational process organization and improve the quality of education; 2) creating infrastructure and conditions that can provide expedited realization the acquired knowledge in professional work; 3) preparation of specialists in the sphere innovation management, innovation processes organizers who own skills search for promising scientific and technological ideas and their practical implementation of innovations; 4) preparation specialists able not only to generate new knowledge and technology, but also turn them into a business. Performing these tasks because our national educational system is the global educational space. Without a thorough update the content and application of new technologies in education is not possible to prepare specialists who meet the requirements of for professional activities in market conditions. Therefore, the main scientific and methodical task of universities is to create of mechanisms of formation of professional competencies in students. The structure of professional competence should include such skills as \"teamwork\", \"skill acquires new knowledge\", \"knowledge and willingness to use innovative ideas\", \"lifelong learning\" and others. Conclusions and directions of further researches. Thus, knowledge economy is a new type of economy that means knowledge that produce an innovation. Science and knowledge are capital investment and new maintenance requirements of the labor market raises knowledge to a higher level. For qualitative staffing knowledge, economy should reform education system that will allow carry out preparation professionals capable of generating new knowledge and technology.