The article is dedicated to the ascertainment of the system of contemporary labour law of Ukraine and its place in the Ukraine’s system of law. The author emphasizes on the social nature of  this branch of law and the diversity of social relations that form its object. Actually due to the object all legal norms unite in two complementary parts – individual and collective labour law. Each of these parts is structurally divided into separate institutes the norms of which regulate close by the nature social relations. While individual labour law uses the so-called reverse imperative method of regulation, the collective labour law uses the dispositive method.In the system of law of Ukraine, labour law is a component of social law that is considered the group of branches of law as public or private law. In the future, the place of labour law in the system of law may change due to the formation of employment law, where this branch will have the decisive role.