The article is devoted to the problem of economic and legal support and the use of effective mechanisms for implementing competition policy as a direction of economic policy of the state. An important and necessary mechanism for implementing the state's economic policy is to take into account both legal mechanisms of formation and micro- and macroeconomic effects, including processes of globalization.The formation and implementation of the economic policy of the state and, in particular, of competition policy, requires an instrumental-institutional approach of the state to its functioning, as a separate permanent component of the activity of the state apparatus. The formation of a public institute for the implementation of competition policy and the application of effective mechanisms should be clearly defined and enshrined in legislative acts and program and forecast documents. Achieving the goals of competition policy is possible only through a well-developed strategy and tactics, which implies the achievement and resolution of large-scale economic and social problems, together with the solution of urgent, immediate goals. An important aspect in the implementation of economic and legal policy is a differentiated approach to solving problems depending on the areas of production. Legislation in different sectors and segments of the economy should clearly take into account the degree of oligarchization of markets or areas of production, and provide remedies for economic competition in a particular area, as well as protection against unfair competitive practices. In those sectors where market monopolization is justified and has a positive effect, and as a consequence of improving the competitiveness of the industry, it is necessary to determine the mechanisms of market implementation and special protection against abuse. Deoligarchization as the goal of competition policy, provides for the use of economic and legal means, the main focus of which is to prevent monopolization of markets, the establishment of effective parameters of economic concentration, measures of supervision of subjects of natural monopolies, the special nature of privatization and nationalization processes, and the like.