Purpose. To analyze the current state of innovation and environmental projects, to develop management strategies and algorithms for project environmental and economic management in subsoil use, to propose a mathematical model of the system of perception and support of solutions for effective environmental and economic management. Methodology. Different methods of cognition were used for scientific research both general and special. Analytical study on the state and realities of innovation in Ukraine in general and in particular in the mining industry, identification of trends in world practice were conducted based on using the methods of content analysis, quantitative and qualitative comparison. Methods of scientific abstraction and systematization were used to develop strategies and basic algorithm of project environmental and economic management in subsoil use. Mathematical methods were used to develop a mathematical model and coordinate it with the developed algorithm of project environmental and economic management for subsequent use in the system of perception and support of decisions. Findings. A systematic approach to the definition of management strategies and an algorithm of project environmental and economic management for the implementation of effective economic and environmental management of mining enterprises is proposed. A mathematical model designed for use in the system of perception and support of decisions for effective environmental and economic management has been developed. An analytical study on the state of innovation in Ukraine in general and in particular in the extractive industry has been conducted. This provided an opportunity to identify trends in the dynamics of change regarding the introduction of innovations and identify the causes of existing trends. Originality. The study identified threatening trends in the practice of introducing innovation. To solve production and scientific problems in the presence of significant challenges, new tools for finding optimal solutions in the environmental and economic management of subsoil use were proposed. Using a systematic approach, a mechanism for selecting strategies, an algorithm of project environmental and economic management and an original mathematical model have been proposed. Practical value. The results of the study can be used both to create new tools for information support of environmental and economic management, and by scientists and practitioners to develop effective solutions for the management and implementation of innovative projects in subsoil use.