AbstractThis paper deals with the importance of reindeer husbandry for the livelihood of indigenous peoples of the Russian Arctic and its economic, social and ethnic role. The aim of the study is to analyse the state of reindeer herding, identify priority problems that hinder its development and justify a system of measures to help overcome them. A retrospective analysis of the state of reindeer herding has been carried out (1991–2019). The reasons influencing the dynamics of growth of public and private livestock during the post‐Soviet period were identified. The priority issues to be resolved for the further development of reindeer herding have been addressed: enabling entrepreneurs to develop; the use of special measures aimed at a gradual reduction of the number of livestock; the prevention of conflicts between companies in the extractive industry and indigenous ethnic groups.