This article examines the role of humor in educational process of the university. There is a generally accepted opinion that humor is a positive characteristic of teaching and learning. However, it is quite difficult to determine its positive value as far as helping students. Therefore, the subject of this research is the analysis of using humor in the educational process, psychological grounds of its impact, pros and cons of using humor, as well as peculiarities of students’ perception of humor and their response. The methodological framework is comprised of systematization and analysis of scientific publications; generalized practical experience in determination of the key trends and problems using humor in the educational process. The author examines the role of humor in different aspects of the educational process, the impact humor upon motivation and emotional state, use of humor in educational games and nonverbal communication, as well as peculiarities of students' perception of humor, miscomprehension of jokes, and negative humor. It is demonstrated that the proper use of humor in the educational process contributed to position emotional state of students, increases their motivation and interest in learning, reduces anxiety and stress, strengthens confidence, improves performance, and encourages divergent and logical thinking. However, the improper use of humor may entail negative results.