Abstract: The subject of the research is the functions of national wealth, considered in the context of the transformation of the socio-economic system. National wealth in the context of the transformation of the socio-economic system is one of the fundamental indicators that reflects the totality of tangible and intangible resources at the disposal of the nation. During the transformation of the socio-economic system, there is a redistribution of national wealth between sectors of the economy. Transformation requires reforming state institutions, legal systems and management structures - this can affect the efficiency of using national wealth, increasing or decreasing economic stability, national security and investment attractiveness of the country. In modern conditions, special attention is paid to sustainable development, which involves the rational use of natural resources and minimization of environmental risks. Transformation of the system aimed at sustainable development contributes to the preservation and increase of national wealth in the long term. The purpose of the work is to determine the content and structure of national wealth in the context of the transformation of the socio-economic system. The research methodology is based on the generalization of information from domestic and foreign sources, statistical data on the issues considered in the work. The scientific novelty of the study consists in identifying qualitative changes in the characteristics of national wealth in the modern conditions of transformation of the socio-economic system. The article highlights the following stages (phases) in the development of the socio-economic system: crisis phase (destabilization phase), phase of awareness of the need for change, reform base (transformation phase), phase of adaptation and stabilization, phase of growth and development, phase of consolidation and institutionalization. The results of the study can be considered as an increase in scientific knowledge in economic theory.