A labor law is intended to play a determinative role in the life of society and those social changes that take place in Ukraine. A fundamental reflection of sources of labor law and appropriate changes in the national legislation will make this possible. Legal reforms should bring the labor legislation in accordance to Constitution of Ukraine, universal principles and norms of international law and new socio-economic reality. One of features of labor law sources is their diversity, that is caused by necessity to resolve multiple practical issues in legal relations. A system vision of sources of labor law provides: a) better explaining a mechanism of influence of legal norms on labor relations; b) detecting of juridical aspects of interaction between legislative organs; c) setting more clear linking inside of legal massive; d) understanding a dependency of social facts from legal norms. Valid Labor Code of Ukraine has been accepted in far 1971, and even though many changes have been added to it, this Act less and less recalls nowadays situation in the country. A distance between legal regulation of different spheres is increasing continuously. That's why it is necessary to set following correlation between state and local legal regulation of labor relations: a) state saves its right to regulate and concretize Constitutional norms, main procedures and complex of compulsory guarantees of employees; b) social partnership and local levels determine regional, local and other features of labor organization and realization of labor guarantees; c) individual regulation becomes a way to determine together with an employee his personal working conditions and stimulations.