The paper is devoted to the problems of the USSR scientific and technology (S&T) policy during the “Khrushchev’s decade”, presented as part of the macroeconomic policy. The analysis is carried out in the context of economic reforms and experiments implemented in the country. The main components of S&T policy are revealed, the evolution of its structure and content in comparison with the first post-war decade is shown. In the analysis of S&T policy, the main attention is paid to the reflection of the status of science as a driver of economic development in the context of global challenges and the formation of new techno-economic paradigms. The emphasis on the applied function of research and development (R&D) proclaimed in the framework of S&T policy is presented as a reflection of the traditional for the USSR interpretations of the place and role of science in society under new conditions of scientific and technological revolution as a Soviet counter-thesis to the concepts of post-industrial society. The connection of decision-making mechanisms in the field of S&T policy with general line of Khrushchev’s populism, and the emerging practice of “bureaucratic bargaining” is outlined. The basic trends of approaches to planning in science and coordination in the field of R&D are identified, the directions of organisational restructuring in the governing of the scientific and technical complex are shown. It is concluded that S&T policy in the mid-1950s — 1960s remained a function of economic policy, that a unified S&T policy in the country under N. S. Khrushchev had not been formed. At the same time, the return on innovation remained at a low level.