The article substantiates theoretical and practical significance of psychological investigations of media culture, treating it as a new social reality of human society. Functions of media culture and social and psychological effects of influence of mass media upon young audience are analyzed. In connection with this the author lays special emphasis on the necessity of providing research of phenomenology and theory of media culture as well as working out the practical questions of media education. The article shows the perspectives of investigation of media culture in the frames of psychology.