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The article discusses the issues of forming a study program in the context of the process' compliance with the recommendations provided by Standards and Guidelines for Quality Assurance in the European Higher Education Area (ESG), which are relevant for Ukrainian higher education. The study achieved its goal: the main prerequisites for the formation of the study program (SP) were analyzed, its structural and semantic parameters were determined, and a step-by-step model of concluding a quality study program in accordance with the ESG guidelines was suggested. The search for the materials on which the study was based was conducted using the following databases: scientometric (Scopus, Web of Science), the information system (online platform) of the National Agency for Quality Assurance in Higher Education (NAQA), and the "Legislation of Ukraine" database. Quantitative methods included an online questionnaire, qualitative methods included system analysis, and other comparative method were used. Due to the contradictions between the interpretations of the concepts at the level of legislation and internal regulations, a definition of the "formation of the study program" concept is suggested. The components of the SP formation process, the resources required for the formation of the quality SP, and an analysis of positive and negative practices from the NAQA accreditation procedure experience, based on which the optimal model of the SP as a dynamic system based on ESG guidelines was developed, which has a functional character and is based on theoretical generalization of the latest approaches and real cases of Ukrainian HEIs, were discussed.