Abstract: Human capital assets accumulation is one of the “engines” of economic growth and the key factor of economic and social wellbeing of contemporary societies. The research subject unites the processes and conditions of human capital assets reproduction. The research object is the condition of “human forming” sectors of the economy in Russian regions, particularly, in Volgograd region. The authors analyze the processes of human capital accumulation in Volgograd region in comparison with the Russian Federation and the Southern Federal District, and offer the methods of its accretion. Special attention is paid to the recent changes in Russian legislation determining the reduction of social expenditures both on the federal and on the regional levels. The authors apply general scientific methods of analysis, synthesis, the dialectical method, system analysis, and comparative analysis. For human capital assets accretion calculation in the regions of the Southern Federal District the authors use the method of national wealth accretion calculation model introduced by M.V. Ledenyova, and statistical and mathematical methods. The authors come to the conclusion that human capital assets reproduction in the region and in the country is the result of a complex interaction between the state, the population, and the business structures, and the most important investment sources are the federal spendings on the educational system, public health service, and social protection, and the citizens’ personal incomes, primarily, the salaries. For human capital accumulation it is necessary to form the investment basis for human capital reproduction and development, and to intensify the state participation in organizing the process of its accumulation via strengthening and development of state structures in these spheres. The human capital accretion in the regions of the Southern Federal District in 2010 – 2014 is calculated according to the formula of human capital relative gain of M.V. Ledenyova. The analysis defines the tendencies of human capital gain in Volgograd region.