The study of social phenomenon of the primitive accumulation of the capital is proposed in the article. The author analyzes the classic definition of the phenomenon in order to define its main features. The result of the analysis is extrapolated on the post-socialist privatization process, particularly in Ukraine. The article tries to draw a parallel between the separation of production factors from small producers at the dawn of capitalism, on the one hand, and the processes of post-socialist privatization, on the other hand. The author arrives at a conclusion that both the nature and direction of the post-socialist privatization have been determined rather by political considerations and public opinion stereotypes, than by economic developments. So, the privatization has formed the domestic financial-industrial groups which has become the basis of great national bourgeoisie, i. e. oligarchs.