The article is devoted to the study of the problems of the competence-based approach implementation while teaching at the institutes of higher education. The terms «competency» and «competence-based approach» are expounded in details. The aims of the competence-based approach are determined; the classification of the key competencies that the students master at English lessons is given. Using of the competence-based approach in foreign languages teaching at high school is described. Various interpretations of the category «communicative competency» are considered; the basic components of communicative competency are defined. Also the article gives recommendations on the competence-based approach forming and introducing into university educational process.