Under the modern economic conditions in Russia, the input in man shoud be commercial. To fulfill this requirement, it is necessary to understand the essence of capital from the perspective of return. The article presents the author’s definition of human capital and author’s scheme of human capital circulation with due regard to the innovation component. It is impossible to increase human capital without an active state innovation policy, which in turn is impracticable without improving the quality of education. This article reflects the interconnection between the RF government measures aimed at development of human capital and the benefit from these measures in the form of Russian GDP growth. The information provided in the article will be helpful to postgraduate students and those who study the influence of the quality of education on innovation activity.