Universities, as knowledge-producing institutions of society, in modern conditions can play a significant role in innovation, promote economic growth, become growth points within regional and national innovation systems, to play the role of visionaries of the future development of society. Issues of transformation of higher education institutions in the direction of development of interaction with the external environment, with the business community, modernization of the university structure in order to ensure its dynamic development and financial sustainability are becoming more urgent; strengthening, along with educational and research, third, innovative and entrepreneurial function; effective use of the potential of universities as sources of knowledge and visionaries of society development, a unique combination of highly skilled professionals and intellectual capital. A special role in the national educational environment is played by the so-called «flagship universities» — universities that effectively perform educational, research, entrepreneurial and visionary functions. This article is devoted to the analysis of the special role of the flagship universities within the national education system and its gradual transformation
Keywords: flagship university, interaction between universities and society, innovative development, national education system