Global and integral tendencies, world educational processes that are widely developed in society and require new approaches in educational sciences and practices, have the educational society oriented to the cardinal conceptual ideas and principles inherent to European education. The author, on the basis of analysis, and using scientific methods of synthesis and data generalization, makes an attempt of representing the necessity of following the provisions of Memorandum on Lifelong Learning, Copenhagen declaration, Bologne declaration, International standard education classification, other legislative acts and documents, in reforming and modernization of the educational sphere in Ukraine. The research of scientists of the National Academy of Educational Sciences of Ukraine has been also analyzed in order to prove and to substantiate the requirement of time – to introduce lifelong education and to study its peculiarities and all aspects in all their variety. The author outlines the main conceptual notions of the research and connected notions, namely lifelong learning, adult education, continuous education, and others. Functions of educational activities are briefly outlined for better understanding of their value under contemporary conditions; the role and meaning of lifelong education for individual and professional development and self-perfection are revealed. The topicality of the analytical research presented is also stipulated by the fact that the basis of the globalized world is “knowledge society”, and information becomes a tool of achieving success in personal life and profession. Lifelong education will also increase the intellectual potential of every individual and every state; thus, this new trend in education will provide an effective response to modern challenges, it will improve the educational system as a whole and will increase economic competition. Therefore, revealing the content and the significance of the terms under research: lifelong education, adult education, continuous education, their functions in the contemporary world that undergoes processes of globalization and internalization, will provide the possibility of introducing the new educational processes and phenomena. Research potential and educational sciences can be enriched with further scientific studies in the direction for a successful and sustainable development of society.