The article provides a theoretical analysis of approaches to the definition of identity, such as psychoanalytic, symbolic interactionism, socio cultural, cognitive, continuum-hierarchical, narrative. The concept of "identity" is considered from the point of view of the structure or process. The article updates the narrative approach to the study of the process of forming identity. In general, the representatives of the narrative approach to the study of personality argue that the formation of identity is possible when the experience is redrawind of experience with the help of stories - narratives. This approach will allow to study the experience of the person, which is the basis of the concept of identity; as a result of conscious narratives of the individual about the past, present and future, the identity will be formed. Such mechanisms of identity construction as identification, introjection (psychoanalytic approach); active internalization and language (symbolic interactionism); cognitive, motivational, emotional, value mechanisms (socio-cultural approach) are considered; assimilation, accommodation and evaluation (continuum-hierarchical approach); social categorization, social identification, social comparison, imitation, internalization, adaptation, assimilation (cognitive approach); reflexive and value-semantic mechanisms (narrative approach). The article focuses on the reflexive and value- semantic mechanisms, because they enable the individuals to analyze, realize and construct their own identity.