The article is devoted to innovative socio-cultural project development as a way of preserving and developing folk culture. In the modern world, far from traditional culture, folk rituals and art must penetrate life itself, as it was two hundred years ago, and accompany daily events and activities. Innovative socio-cultural project development contributes to this. The conceptual justification for the implementation of the laws and principles of innovation was carried out by M.M. Potashnik, L.S. Podymova and A.V. Khutorskoy. The essence of innovation was revealed by F. Bezrudnyi, V.S. Dudchenko and O.S. Sovetova. A special area of cultural innovation is the ethnocultural sphere; its features were considered in the works by N.G. Mikhailova, L.L. Khristiansen and A.S. Iareshko. The study reveals the features of project development in the field of culture and leisure, which consist in the fact that it is aimed at updating existing or developing and introducing new technologies significant for culture and priority artistic and spiritual values. The authors have systematized modern projects in the field of folk culture related to the creation of audiovisual products, organization of festivals and celebrations based on the materials of regional song folklore, artistic and creative recreation of folk clothes, jewelry, crafts and ceremonies, stage productions, as well as new forms of cultural activity, including quests, cities of folk crafts, virtual travel. The study may be useful to teachers and methodologists in developing educational programs in universities of culture and art, to social and cultural workers in organizing and conducting socio-cultural projects related to folk culture, to heads of ethnocultural centers and amateur and professional groups in conducting artistic and creative activities, as well as scientific researchers of modern sociocultural processes. The novelty of the study is associated with its conclusions. Based on the fact that the socio-cultural sphere has acquired both a non-commercial and commercial nature today, a head of a folklore collective must be an economically and legally competent specialist, whose activity correlates with the laws of cultural- and socio-historical, as well as modern, processes and experience of social communication and interaction. For successful development of innovative thinking in leaders of folk groups and institutions in the cultural sphere, scientifically based information is needed, concerning both structural and procedural characteristics of innovative thinking and socio-psychological determinants of its development and implementation.