Research conducted by the British Council concerning modern continuous professional development of teachers has been analyzed. The issue concerning foreign language teachers' professional development has been considered. Productive approach to this process that gives a teacher the opportunities to define aspects of their professional activities that are in need of improvement and introduce appropriate strategies of their own professional development has been characterized. Direct connection between continuous teachers' professional development and the level of students' academic achievements has been stressed. Key characteristics of effective professional development have been defined, namely: being correspondent to actual needs of teachers and students; teachers' involvement into the decision making concerning the content and the fulfillment of professional development; provision of cooperation and teachers' experience exchange; collegiality presupposing common work of teachers and educational establishments in general; practicality, that is the fulfillment of professional development directly in the process of teachers' work in class; obligatory character of professional development as indispensable part of teachers' work; constant reflection and research; prioritizing academic achievements of students as the main stimulus for professional learning of teachers; continuity of professional development and its consideration not as separate forms of work. Modern widely used forms of teacher professional development have been analyzed, namely: self-education, common lessons planning with their further analysis; professional discussions concerning new teaching techniques and the appropriateness of their application; reflexive groups for teaching experience exchange and lessons analysis (video recording of lessons or students' works), observation/attending teachers' lessons with their further discussion in constructive form and without formal evaluation; participation in professional learning communities to solve urgent issues concerning school work and teachers' professional activities; common work of teachers with curricula for detailed studying of problematic issues and their elimination; common teachers' elaboration of learning materials for definite groups of students; participation in mentoring programs; work in online educational communities It has been proved that modern professional development of foreign language teachers shifts its focus from the competency of a teacher to the level of students' academic achievements which is the direct indicator of a teacher's competency.