The research focuses on the relationship between Ukraine and European Union during the first year of Victor Yanukovych presidency. It highlights the attempts of the new Ukrainian government to establish the dialogue with the leaders of EU, including Josй Manuel, President of the European Commission Barroso, Herman Van Rompuy, President of the European Council, Jerzy Buzek, President of the European Parliament, and Catherine Ashton, High Representative of the Union for Foreign Affairs and Security Policy, First Vice President of the European Commission. This was the motive put behind the first international visit of Victor Yanukovych to Brussels, March 1st, 2010. The author proves the idea of keen interest of Ukrainian top authorities to aspire visa-free travel regime with EU, that was supposed to later score more electoral points during the upcoming elections. Still, the terms of Ukraine-EU Association Agreement seemed for the representatives of the Party of Regions too difficult to implement, and, therefore, in their opinion, had limited perspectives. However, in public domain, both President Victor Yanukovych and his political teammates kept consistently demonstrating their commitment to European integration ideas. The Cabinet of Mykola Azarov, basing on the list of eighteen EU reforms, devised their own plan of integration into European legal, economic and information framework. According to this plan, from October 15th, 2010 the administration was to complete the provisions for signing association and the visa liberalization agreements. Ukraine was represented in EU by experienced diplomat Kostiantyn Ieliseyev. The research points out the existing controversies between Ukrainian and European parties in the question of establishing an extensive and far-reaching free trade area. It draws special attention to the progress made in the area of Ukraine-Europe cooperation in the sphere of power industry, endorsement of the law “Fundamentals for Natural Gas Market Development” and Ukraine becoming a member of Energy Community.