The present analysis is based on the institutional model of research on social processes. Thus, the idea of possible modernisation of Russian society rests on the consideration of the current situation in the field of economics, management, and science. On the basis of a secondary analysis of statistical data and the works of Russian and international sociologists, this article describes the fundamental conceptual framework of the modernisation of Russian society. In particular, it focuses on the criticism of the modernisation project initiated by the forces that present themselves as conservative. The author also mentions significant problems arising during the modernisation of Russian society; these problems are rooted in both objective conditions of the on-going process and subjective factors. The article addresses the emergence and development of the modernisation idea in Russia. The relevance of this work lies in theidentification of the features of the transition of Russian society into a new phase, which reflects the trends of global innovative processes.