The work is devoted to the essence of the concept of urbanization, the approaches of foreign and domestic scientists to the interpretation of the concept of urbanization taking into account the directions of research, the establishment of urbanization factors of economic growth. The article outlines theoretical approaches to determining the economic nature of this process. Some tendencies of development of urbanization processes in the context of the country and regions are given. Given the historical demographic processes, the territory of Ukraine outlines the formal or quantitative signs of urbanization, which are directly influenced by national and regional economic factors with appropriate economic management. The inconsistency of Ukrainian cities with world standards and norms has been determined, in this connection the main tasks of spatial development have been formulated. In addition, some factors of the urbanization process are outlined, reasonable decisions on their implementation will contribute to the growth of the economy of urban areas. It is noted that in the future the management of economic processes of the state should be aimed at reducing the existing imbalance of urban development of territories for which, among other areas should focus on the revival of small settlements (villages, towns, cities), development of small and medium businesses, diversification of the economy in the direction of less pronounced urban characteristics. At the same time, the author emphasizes that the degree of urbanization in Ukraine significantly exceeds the world figure, but is inferior to the European average of 73.4%. The article notes that industry with its corresponding economic management continues to play a significant role for the East and South of the country, in the Western regions there is a decrease in the share of agricultural production. In this regard, the highest level of urbanization in Ukraine is observed in the capital, as well as in urban areas with a high level of service development (trade, information, socio-cultural, transport, etc.) and in industrialized regions. As a result of the study it was concluded that urbanization processes have a direct impact on socio - economic development, as a consequence, management decisions aimed at economic development of the state and specific areas should be carried out taking into account existing urbanization factors and their trends.