In this article one overviews theoretical and methodological aspects of territory branding. The essence of the territory branding as an important tool for its social and economic development is considered. Rationale of the territory branding as one of the trends of PR activities on global, national and regional levels is presented. It is emphasized that the study of country brand formation process is a new problem both for western and native science. Strategy for positioning of the country in the world has already been applied in practice by many states and regions.