Introduction. In the process of decentralization of power and management in Ukraine, there are problems of both practical, managerial and theoretical nature, which require finding the reasons for their emergence, and providing sound proposals for their solution. The purpose of the research is to establish a connection and interdependence between the conceptual framework, target settings, the subjective dimension of the decentralization of public power and its economic, political, legal, managerial consequences. System, geographical and managerial approaches, philosophical, general scientific and special methods were used to achieve the goal (of SWOT-analysis, deduction and induction, comparison, analysis and synthesis, statistical methods, of author's observations). Results. The process of decentralization of power and governance in Ukraine, which began in 2015, is complex and contradictory due to the lack of theoretical validity of the reform and the aggravation of the internal political situation due to the manifestations of centrifugal trends in certain regions. The situation has been aggravated, on the one hand, by the historically established practice of strict centralized administration and, on the other hand, by the fact that Ukraine was part of the Soviet Union, which has disintegrated due to centrifugal tendencies. Therefore, from the very beginning of nation-building in sovereign Ukraine, the topic of regionalism and regionalization became unpopular among authorities. As a result, a community model was chosen in the decentralization of power and governance. This choice seemed to be a way of expanding the powers of territorial communities and local governments. Taking into account the existing approach to the territorial organization of power, the article offers a new view of public power, of which the state power is a part, other subjects of public power have been identified, the need to decentralize both vertically and horizontally the public power has been justified, the bearers of which, apart from the state and local authorities, are business structures, public organizations, citizens and their associations – communities. Conclusions. Given the contradictory and incomplete nature of the reform, the economic, political, legal and managerial consequences of decentralization of power have been analyzed, and the new model of administrative and territorial structure of Ukraine has been justified. The main scientific provisions and conclusions of the study can be used in the process of further territorial organization at the regional level, the development of public authority on the basis of democracy. Keywords: decentralization of public power, economic, political, legal and managerial consequences of decentralization, united territorial community, district, region, territorial organization of power.