The article analyzes the dreams of teenage youth as a social phenomenon. Іt is emphasized that the relevance of the research is related to the transitivity, the instability of the social position of teenagers as a socio-demographic group, which determines the specifics of their life strategies and projects, which is expressed in their dreams. The theoretical basis of the research are the basic concepts of phenomenological methodology. It is noted that the theoretical basis of the publication is the fundamental concepts of phenomenological methodology. It is emphasized that phenomenological sociology rehabilitates the dream as a subject of sociological research, considering it as one of the finite province of meanings within the life world of the personality, which can be attributed to the worlds of fantasy and imagination. The empirical material of understanding the dreams of teenage youth is analyzed, in particular the results of a quantitative sociological study conducted by the Department of Sociology of V.N. Karazin Kharkiv National University among teenage youth in Kharkiv and Kharkiv region in 2013. The article presents the results of a content analysis of schoolchildren' answers to an open question about what they would want from a goldfish if it agreed to fulfill their three wishes. It is emphasized that the data obtained thanks to this method made it possible to distinguish seven groups of schoolchildren' answers: "Life guidelines", "Life strategies", "Significant resources", "Relationships with others", "Supernatural", "Personal desires", "Combined desires". It is noted that among the life goals of schoolchildren in the first place "health", among life strategies – "education", and among resources – "money". The authors focuses on the group of desires "Supernatural", which most clearly demonstrate the essence of the dream, which, although detached from the reality of life, but expresses the deep existential desires of teenagers. The results of the research are presented, indicating the importance of the role of relatives and close peoples in the life world of teenage youth, which is not only significant but also recognized by them. It is emphasized that the obtained data can be interpreted in different ways, including as an expression of teenagers' life landmarks, their life strategies, life plans and/or ideas about the future, that is, using concepts that are more traditional for sociology. The need for further research in this area is noted.