The purpose of the article is to evaluate neo-liberal doctrines of the “launch” of agricultural land market circulation and potential increase in taxes and levies to budgets of all levels, increase of credit and investment resources in the agro-industrial sector and annual additional GDP growth of the country in case of the implementation of such model. Research methods. The basis of the research was general scientific and economic research methods, scientific works of Ukrainian and foreign scientists on the market circulation of agricultural lands, transformation of commodity economies and global challenges related to climate change and food security. Analytical and statistical tools and empirical approach made it possible to calculate advantages in the long-term prospect of land-lease relations in comparison with the alienation of land plots, as well as to calculate indicative inflows to state and local budgets, and to assess a level of investment attractiveness of the agricultural sector and feasibility of additional annual GDP growth of the country when introducing a liberal model of market circulation of land rights. Abstract-logical considerations made it possible to identify risks for Ukraine in the absence of an effective system of institutional mechanisms for deterrence and counterbalance to destructive processes in the field of land relations, as well as to formulate appropriate proposals and conclusions. Research results. It has been proved that in the long term it is more expedient to develop lease-land relations in comparison with sale of land plots both for land plots of state and communal property and for citizens as owners of land plots. Excessive expectations of introducing neoliberal approaches to the market circulation of land were refuted in terms of tax revenues and levies to budgets of all levels and increased investment in the agricultural sector and opportunities for lending to businesses secured by agricultural lands. The stages of land reform that began in the 1990s were highlighted. Some factors that have led to increased global competition for land and water resources and increased control of transnational corporations in agro-food markets were identified. Elements of scientific novelty. Possible risks from application of neoliberal approaches to implementation of market circulation of agricultural lands in situation of critical dependence of macro-financial and currency stability of the country on external borrowing were identified. Practical significance. Separate provisions may be used for finalizing draft laws and other regulatory acts on the legal, organizational, economic, social and environmental principles of agricultural land market circulation. Tabl.: 2. Figs.: 1. Refs.: 39