Abstract: The research subject is the modern condition and the perspective directions of the state supervision system reforming. Recently, the significant reforms have been undertaken in the sphere of Russia’s legislation about the state supervision, aimed at the improvement of oversight bodies’ activities, including the introduction of a risk-oriented state supervision system. The attempts are made to improve the executive authorities system, responsible for the supervision and control, aimed at the decrease of the redundant influence on various spheres of the market economy. One of the main recently discussed questions is the adoption of a new law on the state supervision and control. The methodology of the research is composed of the modern scientific methods, including the systems analysis, the historical method, and the methods of observation, synthesis and analysis. The author also applies sociological methods, the statistical method and the method of expert assessment. In the result of the research the author formulates the main problems of the modern state supervision system reforming. The author defines three main directions of reforms in this sphere: firstly, the improvement of the current Federal Law of December 26, 2008 No. 294; secondly, the optimization of the state supervision structures and functions; thirdly, the development of the new federal law on the state control and supervision. The article analyzes the main results of the performed reforms.