The article deals with the results of theoretical and methodological analysis of the problem of psychological formation mechanisms of students’ readiness to innovation activity. Innovation activity is an integral part of any organization or enterprise and it supports the competitiveness and survival of a person in modern changing world. It is demonstrated that readiness for innovation activity is an important condition for its effective implementation, use of existing knowledge, realization of personal skills, preservation of self-control and capability to react swiftly to the situation.