The article examines the axiological aspects of the reflective activity of students of higher education institutions. It is shown that the formation of the future specialist's ability to reflective analyzes and make sense of his actions, deeds, qualities, and the desire for personal and professional self-improvement is a valuable reference point for higher education. The development of reflective abilities and competencies of students does not happen automatically but requires purposeful cultivation through the creation of a reflectively enriched environment in the educational space. It is shown that the reflective environment of higher education institutions is a means of social and professional development and formation of a future specialist and, at the same time, an important resource for improving the quality of educational services. Parity equality, educational cooperation and collaboration, and reflective teacher-student interaction create the most favorable opportunities for the individual's internal liberation, self-realization, social maturity, and individual value growth. The created model of the reflective educational environment of the higher education institution allowed to organize the educational process of training psychologists-masters in such a way as to take into account the individual hierarchical system of the needs of a specific student, to create the necessary conditions for their transformation into life goals aimed at personal, value-meaningful, professional development and self-development of the participants of the educational interaction. The methodical tools and methods that most effectively help to "launch" the reflective mechanism of students' educational activity are determined: the performance of academic tasks that involve reflection and are aimed at self-analysis of educational activities, the use of reflective technologies, interactive forms of organizing educational interaction, reflective workshops, seminars, active implementation dialogue forms of educational activity. The result is the development of reflective competence of students - the ability to enter into an active research position regarding their activity and themselves as its subject. Four stages of the formation of reflective competence in students are distinguished: 1) the formation of the need for reflection, 2) the experience of the student's reflective activity, 3) the development of the ability to reflect exit, the ability to take a reflective position, 4) the use of reflective practices of meaningful and valuable attitude to the environment The close relationship between the formation of professional reflection and the process of professional self-determination of a young person is indicated. A reflective assessment of one's achievements and difficulties while studying at a higher education institution helps the student to make sense of and rethink his knowledge, norms, values, and worldview principles with the requirements of professional activity and, thus, to adjust his ideas about the chosen profession and outline the path of self-development in the format of the selected life trajectory. The specific experience of organizing a reflectively enriched educational environment in the education of master's students in the specialty 053-Psychology is analyzed, and its effectiveness in the development of reflective abilities of students is shown with the help of several diagnostic methods. The results of the diagnostics prove an increase in indicators of internal motivation (IM) of master's students due to a decrease in indicators of external positive motivation (EPM) and external negative motivation (ENM) and a change in the ratio of the motivational complex: from a satisfactory level, which corresponds to the formula EPM > IM > ENM to a sufficient level with the balance of the motivational complex IM > EPM > ENM and VM = EPM > ENM (methodology by K. Zamfir modified by A. O. Rean). Determination of thinking reflectivity according to the method of O.S. Anisimov shows a significant increase in the number of students with a high level of this quality (from 13.3% of students at the beginning of studies to 26.7% at the end of studies) and a decrease of students with a low level (from 26.7 % to 6.6%). Analogous dynamics of the level of development of personal reflexivity of master's students was recorded by the method of A. V. Karpov and V. V. Ponomareva. Our study showed that the reflective activity of students is determined by external (goals, content, technologies, means of educational activities) and internal (search for personal meanings and values of one's activity) factors.