In the beginning of the 21st century, Ukraine finds itself in a complex position as it continues with the post-Soviet transition. The country faces tasks of national identity formation and nation building. Due to its location at the geopolitical crossroads between Russia to the East and the European Union to the West, Ukraine is also faced with the need to assert its independence and to strategically reposition itself within the contexts of globalization. Education, and particularly higher education, is central in addressing these strategic objectives. Having joined the Bologna Process in 2005, Ukraine hopes to strengthen its relationships with the EU through participation in European Commission-sponsored projects, and to increase its own research capabilities and build the capacity of its higher education system. However, after the collapse of the Soviet Union, higher education has become one of the most corrupt areas in Ukraine. This paper analyses the impact of the Bologna Process reforms on Ukrainian higher education institutions. It explores Ukrainian educational policies during 2005-2009 period and aims to answer the question of whether the Bologna Process agreements have resulted in more transparency within Ukraine's higher education institutions.