The current study focuses on the research topic of creating a theoretical model of development of information competence among students enrolled in elective courses. In order to examine specific features of the theoretical model of development of information competence among students enrolled in elective courses, we performed an analysis of formation of the concept "information competence of students." We investigated and provided theoretical substantiation for meaningful characteristics of information competence of students. We developed and validated the theoretical model of development of information competence among students enrolled in elective courses, including criteria, parameters and efficiency levels of this process. We recommend to implement the theoretical model of development of information competence among students enrolled in elective courses for development of higher educational programs.