The article deals with the phenomenon of the University Museum as an important structural element of the socio-cultural environment of the University. The results of research aimed at understanding the structure, functions and main characteristics of the University Museum are presented. To achieve the objectives of the study, a qualitative research strategy was used, including both hermeneutic method and descriptive-interpretative analysis. It is shown that the development of museums of Russian universities is characterized by the desire for consistency. Consistency is manifested in the work to ensure the completeness of collections, in the search for optimal forms and methods of stock and exhibition work. The authors analyze the role in the development of University museums of major research scientists-founders of scientific schools, some of which, in addition to the main activity, headed the University museums. Museum collections and the Museum space itself served as the basis for scientific research, in which students participated. The features of functioning of the University Museum as a special Institute of social memory are analyzed and its differences from the state Museum are shown. The feature of special methods of scientific and cultural information transfer in the context of Museum space is considered. The analysis and interpretation of the research material showed that many museums of universities, preserving educational and scientific functions, have become a repository of historical information about the history of the University, recorded in documentary and material sources. The involvement of students in Museum activities gives young people the opportunity to form a sense of spiritual involvement in the "Alma mater", continuity in relation to previous generations and responsibility for future generations. The results of the study can be recommended as practical Museum workers and scientists studying museology.