Subject. This article discusses the issues of differentiation of the regions of the Russian Federation by level of socio-economic development. Objectives. The article aims to define the main conceptual approaches to ensuring sustainable and balanced development of the regions of the Russian Federation. Methods. For the study, we used the methods of analysis, synthesis, and generalization. Results. The article presents conceptual provisions on the management of sustainable and balanced development of the regions of the Russian Federation. Conclusions. Reducing imbalances in the economic and social development of the regions should become the main goal of the spatial development of the Russian Federation.