To determine the directions of managing the intellectual capital of a university, the authors studied the impact of the knowledge economy on the education sector, analysed the most prestigious international rankings of universities and their criteria and methodologies, assessed the current state and prospects of Ukrainian universities in global rankings. The study of theoretical developments has proven the importance of the intellectual capital of the university and its ability to increase the competitive advantages of universities. Authors proposed the mechanism of institutions of higher education intellectual capital management in the knowledge economy, which provides a synergistic effect of all components of intellectual capital and will increase the competitive advantages of Ukrainian universities. Manuscript profile