The paper outlines evolution of human capital theory. It provides a methodological approach for measuring the level of human capital development in the regions of Russian Federation. The approach suggested enables to determine the qualitative state of human capital in each region, to find out the reasons underpinning the current situation, to asses regions’ contribution to the overall national human capital, to develop some individual approach to forming another quality human capital and its managing for each territory. The methodology afforded the instrument ware based on the qualimetric analysis, which uses the natural estimates (indicators) of an object. A system of indicators simulating the human capital state puts forward the following modules: demographic, educational, labor, research and sociocultural. The tool offered allows differentiation of the Russian regions into the levels of human capital state. The 2011 rating of Russian regions according to the human capital state is given.