The Olympiad movement in domestic pedagogy is perceived simultaneously as a driver of the development of students’ creative abilities and an alternative system for assessing their educational results. The problem of our research is associated with the implementation of Olympiad practices, in particular, with the results of the regional stage of the All-Russian Olympiad for Schoolchildren. The relevance of the study is due to the constantly increasing schoolchildren’s participation and popularity of Olympiads in different subjects. For example, in the 2022-23 academic year, more than 20 million cases of participation were recorded. There is no doubt that the Olympiad movement is important for the development of students’ creativity, however, schoolchildren tend to avoid intellectual competitions. Thus, the aim of the study is to examine additional external motivational factors that may improve the situation. As a theoretical framework of the study, the cultural approach was used along with the cultural theory of the education content. The main research methods are theoretical, including the analysis of scientific and methodological literature, regulatory documentation and tasks of the past years, categorization, induction and deduction. As a result, conclusions were made about the need to reform the Olympiad movement in the area of recognition of the significance of the regional stage results of the All-Russian Olympiad for Schoolchildren. We propose to take into account the effective participation in the Olympiads in the system of state final certification and equate the diploma of the winner and prize-winner of the regional stage with 85 and 75 points of the Unified State Exam, respectively. The article reveals prerequisites for such a reform, indicating a high level of competitions, with the transparency of the procedure for assessing and holding competitions under the direct control of the Ministry of Education. The theoretical significance of the study is refracted in the enrichment of pedagogical science in the field of the implementation of Subject Olympiads for Schoolchildren, its practical significance is the possibility of using the obtained results both to reform the procedure at the federal level and to recognize the significance of the regional stage results by universities when working with applicants.