Purpose: to prove the necessity of changing the direction of the Russian Federation migration policy towards repatriation and to substantiate the contribution of the new migration policy to the labor resources replacement. Methods: the materials prepared by experts of the IPM «Forum Pereselencheskih Organizacii» («Right to Homeland» project (President of the Russian Federation grant for the development of civil society provided by the Presidential Grants Fund No. 20-2-002592 dated 06 July 2020). Findings: substantiated the necessity of restructuring the migration policy towards repatriation; analyzed the potential effect of the migration policy, built in accordance with the principle of humanity, on the participation of the migrant population in the Russian Federation labor force. Conclusions: The Russian Federation, being at the second stage of depopulation, is forced to take effective measures: taking into account the need to cope with negative socio-economic and demographic trends, Russia should implement measures to attract migrants, especially Russians living abroad, and to ensure their settlement in historical homeland.