In this article, the Author analyses the current state and the perspectives for reforming of the electoral system of Ukraine. The Author focuses on the identification of the criteria for the selection of an electoral system. In addition to the political criteria that political scientists and election law experts usually refer to, in Author’s opinion, the requirements of the Rule of Law — legal certainty, predictability, proportionality, constitutionality, legality — are of great importance in this process. Taking this into account, the Author argues for the necessity to fulfill these requirements from the very first stage of selection of an electoral system and introduction of a respective election threshold in case of selecting proportional or mixed system. Meeting these requirements consistently will ensure the expression of free will of voters, stability of the electoral system and performance of the fundamental functions of elections — legitimation of power, selection of political leadership of the state, being a «barometer» of political life.

Finally, the Author concludes that, from the standpoint of the implementation of the Rule of Law, the proportional system with open party-lists is the most appropriate in contemporary specific historical conditions in Ukraine. The necessity of introducing of such system has long been advocated by the majority of national constitutionalists; however, it is hampered by particular political forces represented in the Parliament.