The guidelines of the European Higher Education Area (EHEA) imply the rethinking of many of the current evaluation systems, since the new pedagogical models now focus on the learning acquired through the students' personal work and on the establishment of the ideal conditions for them to achieve the learning outcomes of the proposed educational objectives. In this context, it has been a standard practice in the last years for social science undegradutate programmes to incorporate at least one major assessment exercise in the final (fourth) year of studies in the form of a project. This Final Year Project introduces a new problem‐solving situation in undergraduate programmes and students must use their initiative to identify the research problems, decide on the information they need and how to obtain it, use the collected information to solve the research problems and present the results in an adequate way. This article presents an efficient and objective guide for the assessment process of the Final Year Project (FYP) in social sciences which can easily be customised for different social sciences curricula. More analytically, the guide which has been developed to help higher education institutions create their own FYP assessment systems starts with the definition of the final year project and the description of the structure that has to be followed for its realisation, continues with the analysis of its competences and their assessment, and ends with a proposal for implementation of the assessment procedure and the role of the evaluation agents.