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Introduction. The problems of assessment of student achievements as an indicator of the quality of knowledge and skills acquired by them are constantly in the focus of the pedagogical community and scientists involved in the development of education. Currently, the question of the objective measurement of learning outcomes is especially relevant because the priority task of education is the development of the student's abilities to set independently learning goals, project ways of their implementation, monitor own actions, reflect own successes and failures and correct errors, in other words, the formation of the ability to learn independently. The traditional scoring system of grades is of little use to solve this problem since it is focused primarily on testing the reproductive level of mastering the training material and is aimed solely at external control, rather than improving the learning outcomes. In the new conditions, a new assessment system which includes self-control and self-assessment of students is required. The aim of the publication is to discuss the existing approaches to the formation of self-evaluation of students and the effective use of this pedagogical tool for monitoring and increasing the motivation to learning in the educational process. Methodology and research methods. The main research methods are theoretical analysis, synthesis, comparison and generalization of the content of scientific literature of the relevant subject matter. Results and scientific novelty. A new format for the learning outcomes assessment based on the collection of information on the achievements of the students from various sources and on the regular monitoring of their advancing progress along the individual educational trajectory is considered. Such a prolonged assessment is more informative than the usual marks which are set out in points, so it allows the teacher to promptly regulate the educational process and make timely correct decisions about its correction. In addition, it enables the student to participate in the procedures for assessing his/her own level of knowledge and develops his/her self-assessment skills. According to the initial targets, summative or forming types of self-assessment are identified. Its advantages as a mechanism for managing the educational process are shown: self-assessment contributes to the improvement of metacognitive abilities and the formation of critical (self-critical) thinking of students; activates their self-awareness; increases interest and motivation to learning; encourages to be independent subjects of the educational process, which is extremely important from the point of view of the strategy of lifelong learning. Practical significance. The materials of the article provide a comprehensive understanding of the phenomenon of students' self-assessment as an obligatory element of the new educational paradigm, which has just begun to be introduced into everyday pedagogical practice. © 2018 Obrazovanie i Nauka. All rights reserved.