The current study facilitates the discussion on implications of the Fourth Industrial Revolution (4IR) on education. World technological development and digitalization are unmistakable tokens of the 4IR, they will undoubtedly have a positive impact on transition to Education 4.0. Authors examines the key challenges and features of the 4IR for the Russian educational system. Researchers also consider how Big Data, Internet of Things (IoT), Artificial Intelligence (AI), automation, robotics, Virtual and Augmented Reality (VR/AR) are shaping the future of high-quality education. The paper builds on the World Economic Forum Education 4.0 framework that embraces eight critical characteristics in learning content and experiences: global citizenship skills, innovation and creativity skills, technology skills, interpersonal skills, personalized and self-paced learning, accessible and inclusive learning, problem-based and collaborative learning, lifelong and student-driven learning. Authors also emphasize eight examples of Russian universities and education programs that are paving the way toward Education 4.0. There is a definite probability that activating a new model of education will require greater endeavors of all stakeholders – students, educators, university administrators and officials. Copyright © 2020 for this paper by its authors.