Internationalization has become a subject of global interest and global geographical coverage. In order to develop a National Internationalization Strategy of Ukraine, it is necessary to take into account trends and patterns in the global market of international education services. The aim of this article is to examine national policy of Ukraine for higher education internationalization, consider issues of foreign students’ study in Ukraine and give recommendations for National Internationalization Strategy development. To achieve the above aim, several methods have been used, including internet search, analysis, systematization of evident information. The European vector for developing Ukraine has been confirmed by the accession to the Bologna Process (2005) and Association Agreement between the European Union (EU) and Ukraine (2014). Basis for higher education internationalization (Bologna instruments and legislative documents) have been analyzed. The goals and tasks of the Ukrainian State Center for International Education of the Ministry of Education and Science of Ukraine (the official state source of information on the education of foreign students in Ukraine) are presented. Statistical data from Development Strategy of the state enterprise “Ukrainian State Center for International Education for 2021–2025” prove the increase of foreign students in Ukraine. SWOT analysis of the higher education internationalization in Ukraine revealed strengths, weaknesses, opportunities and threats of higher education internationalization. The current state of higher education internationalization in Ukraine is also clarified by the results of PESTL analysis identifying Political, Economic, Social, Technological, and Legal aspects of the external environment that affect this process. It is stated that Ukraine faces the following challenges concerning academic mobility: insufficient / no funding; non-recognition of degrees / diplomas; unsatisfactory level of foreign language proficiency; inappropriate educational programs / training organization; legal issues; lack of information and encouragement; personal problems of students. The degree of involvement of scholars and academics in international cooperation is very low. The main aspects for the National Internationalization Strategy in Ukraine and their content components are highlighted as following: worldview and value aspect (mission, vision, values, principles); organizational and resource aspect (goals and objectives, approaches, methods, tools, forms, mechanisms, organizational structure and functions, resources); regulatory and legal aspect (legislative regulation: tools for recognition, implementation of mobility, introduction of joint educational programs, mechanisms for ensuring the quality of higher education). It is recommended to develop National Internationalization Strategy; to involve foreign experts for the accreditation of Ukrainian educational programs and participate in the accreditation of foreign educational programs; to develop the Ukrainian rating of universities taking into account indicators of internationalization: foreign students; foreign academics in the Ukrainian universities; publications in foreign scientific journals; joint educational programs / research.