In connection with the events in Ukraine, many politicians and scholars (both in Ukraine and in other countries) expressed the idea of transformation of Ukraine into a federal state. This article is devoted to the analysis of the arguments «for» and «contra» the federation in Ukraine. The paper refutes the following arguments against the federalization of the country: the federalization is impractical, because it would entail separatism and the inevitable disintegration of the country; federalism itself is an inefficient and unstable form of state-territorial structure; federalization is impractical, because it runs counter to European values; federalization is impractical, because it hasn't historical background; federalization is impractical because it doesn't account economic and cultural ties between the regions. On the other hand, real federalism will give Ukraine: overcoming the current crisis of Ukrainian statehood - the most powerful in the country's recent history; it will increase the level of democracy, which would result in the election of regional governors by the population and in general - more active role of population in forming regional authorities; solving the problem of cultural and linguistic division of the country through improving the mechanism of regional languages. The delegation to the regions of the wide range of powers will largely reduce the level of responsibilities of the center for their socio-economic development; the creation of the upper chamber of the Ukrainian parliament will make Ukrainian parliamentarism more stable and balanced institution. Regardless of the outcome of the Ukrainian political opposition, the regions of Ukraine in the long term can be united only into the state with a federal allied nature.