Population dynamics is closely interrelated with the quality of human potential and is determined by a variety of factors, which makes it difficult to assess their consequences. The purpose of the article is to analyse the main trends of demographic changes in Ukraine and assess their role in shaping the country's human potential. The research methods are based on the analysis of dynamic series, structural ratios and forecast estimates, as well as cross-country comparisons. The study identified three main demographic trends: 1) population decline due to depopulation, 2) aging due to reduction in the number of working age people, and 3) prevalence of labour migration flows over permanent ones. In order to minimize the negative effects of demographic changes on the quality of human potential, a rethinking of policy objectives and tools, with a priority of employment policy and active longevity, is required.