The article discusses theoretical and methodological approaches to the transformation of the model of public governance in the context of global challenges of a socio-economic and geopolitical nature. The main stages of the evolution of the theory of public governance are investigated, and a meaningful description of modern key development trends is given. Special attention is paid to the problem of political and administrative dichotomy, achieving a balance between political and administrative functions of public governance in order to increase the validity of managerial decisions. In the course of the research, in addition to theoretical concepts and practices, the fundamental principles and prerequisites for improving the effectiveness of public governance in order to achieve the strategic goals of the country’s development are considered.