This article analyzes multiple interpretations of the concept of "mentality" and its structure. The peculiarities of the psychology of the Ukrainian people are studied/analyzed, and the main features of it are highlighted. The factors influencing the identity of modern Ukrainians are the living environment, geopolitical influences, relations with other peoples, history and historical conditions of the nation's development, church, and the religion. The manifestations of the psychology of the Ukrainian people hinder the effective socio-economic development of the country when interfacing the globalization. This article analyzes the consequences of the destructive influence of the repressive Soviet regime on the national culture and social consciousness of the Ukrainian people. Attention is focused on the need to cultivate behavioural characteristics of the people aiming at the implementation of an effective complex solutions, which tend to contribute to increasing the competitiveness and success of the State. A conclusion is made about the negative impact on the national psyche of the long-term absence of their own State in global domains.