There are plenty of insights not only in democratisation but also in de-democratisation in today’s research into political regimes and democracy. The fate of new democracies is actual and relevant. The focus of this article is the evolution of Ukraine’s political regime. Formally, Ukraine is recognised as a country positioning the attributes of democracy. Despite this, the democracy there is facing existential challenges. On the basis of the research conducted into the state of democracy in Ukraine, the connection between processes of democratisation and de-democratisation is analysed in this country, one of the largest in Europe. Attention is paid to the perspective of the hybrid political regime, analysing not only the denial of each other in processes of democratisation and de-democratisation, but also their coexistence, analysing the historicity, contextuality and modern suitability of the hybrid political regime.