The topically of the chosen paper is proved by the increase in the competitiveness of Russian universities in the global educational market. It either enhances the attractiveness of the national education system or increases the country's position in the world community. The educational services market is a complex system, remaining one of the most dynamically developing areas, which has recently undergone significant transformations. The purpose of the paper is to study current trends in higher education development and draw conclusions about the competitiveness of Russian universities in the educational services market. The main methods of the research were logical, monographic, deduction, induction, analogy, comparison, and analysis. Research results show that the positions of Russian universities in international rankings are analyzed, and the authors have proved that they can compete with other global universities. At the same time, it still is essential to make several management decisions to increase the competitiveness among the world's leading educational institutions. The authors concluded that the modernization of Russian education can be realized by complex projects accompanied by the creation and implementation of cutting-edge models, programs, and technologies. Thus, it is likely to increase the level of competitiveness of Russian universities not only at the national level but also in the international educational market more effectively.