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In the article we investigate the socio-economic efficiency of land use in agriculture. The peculiarities and tendencies of development of land relations in the conditions of a multi-faceted economy are established. The main indicators of land use efficiency are analyzed: crop yields and gross output of all categories of farms per 100 hectares of agricultural land. The economic and legal aspects of the modern land use in the conditions of the final stage of the reformation of land relations are determined. We analyzed the legal and regulatory framework for land tenure and possession (Law of Ukraine on Land Conservation, Resolution of the Cabinet of Ministers of Ukraine “On Approval of the Norms of Optimal Crop Relations in Crop rotations in Various Natural-Agricultural Regions”, Procedure for the Development of Land Management Projects, Providing Ecological and Economic substantiation of crop rotation and landscaping). We outline the problems of raider seizure of agricultural land. We substantiated the prospects for further transformation of land use in the conditions of the formation of the land market.