Within the article, economic properties of modernization potential, which affects the effectiveness of its implementation and economic security of enterprises in a competitive environment is described. The authors formalize structural elements and functional components of modernization potential of enterprise in the context of involving other types of potentials in the processes of renewal and development of the enterprise to ensure economic security. The authors propose a model that reflects the vector of the implementation of modernization potential in economic space. The authors describe the conditions of the enterprise in the spiral space of modernization, which include resource consumption and cost, duration and scale, efficiency. According to the obtained values, ten types of modernization are proposed, which are divided into four sectors of the profile of modernization potential of the enterprise.