Abstract: Today, the Arctic is one of the most significant regions of the geopolitics of the world's leading states. The clash of their interests in the region creates the need to form the foundations for a theoretical understanding of sustainable development as the main ideological component of achieving effective economic growth in the Arctic. The object of research is the sustainable development of the Arctic region. The subject of the study is the theoretical basis of sustainable development in relation to the Arctic region. Special attention is paid to the study of supranational regulatory bodies of states in the Arctic and the legal basis for the use of these territories at the present stage, as well as the shortcomings of current approaches and proof of the need to develop principles of sustainable economic development in the region. The article analyzes modern approaches to sustainable development, characterizes the main interests of the main participants in the development of the region, and also puts forward proposals for the formation of principles of sustainable economic development in the Arctic, aimed at ensuring the economic growth of the region. The main conclusions of the study are: proof of the imperfection of modern regulation of sustainable development as an economic category, the abundance and overlap of the functionality of supranational organizations engaged in the sustainable development of Arctic territories and the need to develop new concepts of sustainable economic development of the region. The scientific novelty lies in the proof of the increase in the navigational importance of the region with climate change, as well as the economic potential of the region, which results in the activation of the political significance of the region for key world powers.