The article reveals the essence of the concepts of innovation and tradition in education, attention is drawn to the possibility of implementing the requirements of the principle of innovation combined with tradition, provided the formation of future higher school teachers’ ethnopedagogical competence. The main methodological approaches in the study of the problem addressed and cultural competence, integration of which is caused by an accessory emotionally-value component in the structure of the content of education and the dependence of the process of formation of competences with the mastering of different types of culture. The study used the following theoretical and empirical methods: method of systematic analysis of research literature, methods of induction and deduction, analysis of pedagogical documentation, observation, analysis of lectures and practical classes at the University, control and analysis of research works of students. Content analysis of ethnopedagogical competence of the future teacher and characteristics of its formation in undergraduates from the standpoint of tradition and innovation has shown that the tradition can be traced in ethnopedagogical material, which possess a master’s degree, stages of providing the future experts with knowledge in the forms, methods and techniques of teaching, in particular with the aim of mainstreaming ethnopedagogical knowledge and skills, the stereotypes of the developing research competence in the sphere of ethno-pedagogy, master’s in organization practice and application in practical sessions on pedagogy ethnopedagogical information, traditional means of folk pedagogy, etc. It is worth noting that the tradition is mainly recorded in the goals, objectives and content of the process of ethnopedagogical training of future teachers. Innovation is manifested in the application in the learning process of modern means and methods of training, implementation of new scientific approaches; the ability of the students to the assessment regarding the application of old ideas in a new environment; analysis of the practical findings of modern teachers and educators from the standpoint of ethnopedagogics and the like. It is mainly reflected in the methods, organizational forms and results of the process of formation of ethnopedagogical competence of future teachers. The study has value in the context of improving the process of forming ethnopedagogical competence of future specialists in the sphere of education.