Purpose. The purpose of this article is to study the regulatory and practical aspects of improving the processes of exploiting agricultural lands in Ukraine. The article analyses the law draft «On amendments to certain legislative acts of Ukraine on supporting agriculture by land consolidation» (hereafter — Law draft) and assesses the degree of potential effectiveness of its regulations. Research methods. To set and achieve the goals of the article the authors applied known methods of scientific cognition. The most effective ones included the method of analysis, comparison, abstraction, historical and legal method, system and structural method, method of prediction, and others. Results. The scientific novelty of the research is revealed in modelling the relations between the participants of the procedure of agricultural land consolidation after the Law draft approval, providing assessment, as well as identifying the degree of the potential effectiveness of its regulations. Among other issues, the analysis of the regulatory and practical aspects of improving the processes of agricultural land use, enshrined in the Law draft provides the conclusion that, if adopted, the Law draft will help reduce problems in the Ukrainian agricultural economy, particularly those caused by strip farming, remote land, suboptimal resource utilization, etc. Although there are controversial points in the Law draft, they do not hinder the opportunity to validate the analysed standards. Rather, they highlight the need to combat negative manifestations, particularly corruption. The research findings reveal that adoption of the Law draft will stimulate the consolidation of agricultural producers and the development of large businesses in the agro-industrial complex of Ukraine, which could have both positive and negative effects. To strengthen the positive effects and weaken the negative ones, effective state regulation of agricultural production is necessary. In conclusion, the Law draft regulations show potential effectiveness in achieving the goals and expected results of the Law. However, the suggestions and proposals made during the Law discussion stage and in the article should be considered to ensure its effective implementation.