Purpose: to study the approaches and priorities for innovation policy oriented to solve developed countries’ social and humanitarian problems (case of the UK and Finland). Methods: due to the descriptive method the array of documents forming the innovation policy of the UK and Finland was determined and analysis singled out its social and humanitarian aspects. The historical method helped to trace the evolution of innovation policy. By the comparative method the goals and content of the innovation policy of the two countries were compared. Results: the UK and Finland face the same type of social and humanitarian challenges characterizing European countries. The authors hypothesized the similarity of the principles of responses to these challenges in the innovation policy of the two innovation-active countries, despite the differences in the fundamentals of the market economy functioning: minimal state intervention in the free market (the UK) and the economic processes regulation in the North Europe welfare state (Finland). An analysis of government documents relating to innovation policy, analytical reviews and statistical materials confirmed this assumption. Conclusions and Relevance: innovation policy as an institution has been examined for a long time but its social and humanitarian aspects are not yet sufficiently specified and presented in fragments. The study of the principles of socially oriented innovation policy in the UK and Finland expands the understanding of innovation policy’s transformation that accelerates the transition of innovation activity from «technological determinism» to «social constructivism». A wide range of stakeholders are involved in that innovation policy’s formation and implementation: the academic sector, business structures, and end users. The results of the study can be used to develop recommendations for improving Russia's innovation policy.