In our article we attempt to reveal the potential of a foreign language as an academic subject in the realization of student multicultural education in higher pedagogical educational establishments. There was used a complex of general sciences methods according totheaim of thearticle: analysis (historiographical, comparative, retrospective), synthesis, abstraction, generalization, analogy for consideration of the development history of formation and theoretical issues of language education and practice of teaching foreign languages. Multicultural education is seen as a complex, multidisciplinary concept that combines a variety of approaches to addressing the cultural heterogeneity of society and is an integral part of general education in most countries of the world. It is revealed that foreign language is an important means of multicultural education of student youth, formation of a culture of inter-ethnic relations of students in the conditions of state orientation on establishment of all-round contacts with peace-loving countries of the world. The effectiveness of multicultural education while teaching foreign languages in higher education institutions is ensured under the following conditions: involving students in learning and communication activities aimed at supporting the implementation of standard microfunctions (establishing social relationships, motivations, expressing attitudes, assisting in communication, etc.) and macrofunctions (description, narration, commentary, beliefs, etc.) in popular fields for young people which are primarily public (social-domestic, sociocultural, public and political), educational and personal; problem-thematic orientation of the subject-based communication content; using interactive methods in student learning and communication activities; special selection of linguistic and speech material based on regional studies to be included in the education process. Further researches of the problem will consist in determining the content, technologies of student multicultural education while mastering a foreign language, the study of foreign experience in promoting multicultural education among the youth in higher education institutions.