Forming of efficient socio-economic policy in conditions of modern globalization trends is characterized by the fact that external environment becomes more and more unclear, its changes become more frequent and its consequences become unpredictable. There is an urgent need to search for the reserves to improve territorial management. The process of managerial decision-making is an integral part of management cycle. It is necessary to have complex information to make efficient decisions that enables establishment of the system of direct and reverse relations between the activity of legislative and executive authorities and response to them in the regions. The system of monitoring is currently the one that is most relevant under market conditions. It provides quick collection of information on complex socio-economic phenomena and processes expressed in a few important parameters for immediate diagnostics of an object’s condition. The article deals with theoretical foundations of the research of the social and economic systems development. The authors prove that development should be considered as a general process in the organic unity of the socio-economic system. The necessity of monitoring the social and economic system of the region is outlined. To achieve the goal, the following general scientific and special research methods are used: observation, generalization, comparison and analysis, abstract and logical method. According to the results of methodological approaches, the definition of the term "social and economic system" is presented. The essence of social and economic system is disclosed in the article. The article argues that the development of the social and economic system is formed in a complex by the interconnected factors and is provided by an effective mechanism of state regulation and management at the regional level. The authors prove that the essence of management of the development of socio-economic system can be defined as a special kind of purposeful activity, which contributes to the achievement of progressive changes in maintaining a dynamic equilibrium and the implementation of the process of expanded reproduction in the regions. The article provides suggestions over the development of monitoring of social and economic system in the region, which will allow to justify the priorities of social and economic development, will increase the effectiveness of strategic planning, forecasting and programming, and most importantly – will provide the necessary rates of economic growth and improving of the living standards.