The article examines the priorities and instruments of youth policy in the countries of Western Europe (France, Belgium, the Netherlands, Luxembourg, Germany, Austria, Liechtenstein, Switzerland) in the context of social protection, youth development and preservation of human potential. In particular, the main characteristic features of the youth policy of Germany (as one of the most progressive and effective not only among Western European countries, but also in the world) are identified: moderate intervention in the life of young people on the side of the State, social partnership between the State and society on the principles of subsidiarity; a combination of social democratic and liberal orientations; high level of democracy; clear structuring by levels: federal, federal state, and local; availability of a strong legislative framework related to the regulation of various issues of young people’s lives. Taking into account the experience of Germany in the distribution of budget financing of youth policy (in particular, its targeting, taking into account local and regional socioeconomic realities and needs), attention is focused on the expediency of applying in Ukraine such an approach to the implementation of the State-based youth policy, taking into account the different conditions and quality of life of domestic youth in different regions of the country (first of all, depending on the distance from the frontline of the war). The priorities and instruments of social protection of youth in Austria are studied (support for the rights of young people to personal development, ensuring the participation of young people in the educational process; providing material and non-material assistance to the unemployed; social support for children under care outside the family; protection of young people from all forms of violence and discrimination; reimbursement of expenses for outpatient and/or inpatient treatment; financing of expenses related to the implementation of residential care for children by foster parents or social pedagogues, etc.). Taking into account the aggravation of the problem of unemployment of the young population in France, the priorities and instruments of the policy of promoting the integration of young people of this country in the labor market, the development of communication skills, etc., are analyzed. The features of the State policy of promoting the development of a culture of youth entrepreneurship, innovation activity, etc., in the countries of Western Europe (in particular, in Germany, Austria, Switzerland and the Netherlands) are studied. The results of the study of the priorities and instruments of youth policy of Western European countries in the context of social protection, youth development and preservation of human potential made it possible to trace the gradual transition from the provision of the State aid to some of the most vulnerable groups of the young population to the financing of social programs that promote youth cohesion, development and preservation of human potential. Taking into account the best experience in the formation and implementation of youth policy in Western European countries, the priority directions for improving youth policy in Ukraine are named.