The article deals with the dynamics of objective indices and subjective estimations of privatization in Ukraine. The author emphasizes the importance of a broader inter pretation of the “privatization” notion thatwould allow to consider the abovementionedphenomenon as a social reinstitutionalization of private ownership, private enterprise, and labor market. The abovementioned reinstitutionalization is to examine on the base of structure ownership and employment indices in their dynamics. Such an analysis allows to conclude that the market economy institutions are renewed as well as parallelism and common tendencies in their forming exist. Moreover, the author adduces opinions on privatization processes expressed by the Ukrainian citizens as well as expert estimations of private ownership. All this gives grounds for assuming that social delegitimization of the privatization process is not necessarily the case for a similar delegitimization of the private ownership institution on the whole.