The goal is a system element of a university students' learning process. It is the goal that "cements" all stages of academic training and practical work of the future professional. The goal-setting acts as specific activity of consciousness within which there is a future professional's reflection of his or her own activity, further development of an activity position as well as building and achieving the new academic and career goals ([1]). Moreover, the quality of the goal setting determines the assimilation and strength level of knowledge acquisition, skills and the formation of the future expert's competencies. One of the most essential questions related to the problem of goal setting is its role and influence on foreign language learning, especially among university students and young professionals. It is common knowledge that in the modern world of globalization a foreign language acquisition (L2) is in high demand in a professional and business communication. The global business landscape is rapidly changing today and fluency in one or more foreign languages will enhance university students' professional prospects in the future. Therefore, the aim of our research is to describe and analyze the goal setting as a psychological mechanism which triggers university students' foreign language choice and its further learning process. The study includes a number of surveys that were developed and conducted to estimate goal setting as a psychological mechanism in its relation to university students' L2 learning process. The theoretical importance of this research is that the complex description of the goal setting model as a psychological mechanism in a foreign language educational process of Russian higher education institutions (Moscow State Pedagogical University, Peoples' Friendship University of Russia, South Ural State University of Humanities and Education) is carried out for the first time. The model is also considered in the aspect of a competency-based approach. The practical significance of the research introduces the results which can be used in university academic practices when developing foreign language training courses, workshops and L2 special seminars in the system of preparation of university students as future professionals.