Optimal control problems are applied to a variety of dynamical systems with a random law of motion. In this paper we show that the random degradation processes defined on a discrete set of intermediate degradation states are also suitable for formulating and solving optimization problems and finding an appropriate optimal control policy. Two degradation models are considered in this paper: with random time to an instantaneous failure and with random time to a preventive maintenance. In both cases, a threshold-based control policy with two thresholds levels defining the signal state, after which an instantaneous failure or preventive maintenance can occur after a random time, and a maximum number of intermediate degradation states is applied. The optimal control problem is mainly solved in a steady-state regime. The main loss functional is formulated as the average cost per unit of time for a given cost structure. The Markov degradation models are used for numerical calculations of the optimal threshold policy and reliability function of the studied degrading units. © 2022 by the authors.