In the last few years Russian society has been going through a stage of political, cultural and economic transformation that brings change to the lifestyle, attitudes, and the worldviews of Russian citizens. The process of development has embraced not only science and technology, but also social and cultural aspects of life. The contemporary image of Russia is in many ways defined by its younger generation that grew up with new economic, social and political standards. Young people’s values, attitudes and aspirations differ from those of the adult generation of Russians, since the last years have been marked by transformations inside the country, as well as by some global changes. This paper demonstrates the results of a study which aimed to identify the relationship between individual values and attitude towards innovation. 380 respondents, young and adult representatives of the Russian population, took part in the research. The respondents belonged to the younger generation (under 25 years old) or to the adult generation (over 45 years old). The principal instrument used was the method of questionnaires. The methodical inventory consisted of three main blocks oriented to the study of the following constructs: the PVQ-R Method of Measuring individual Values (Schwartz et al., 2012) and the method of Self-Assessment of Innovative Qualities of a Personality (Lebedeva& Tatarko, 2009).The goal of the research was to reveal the age differences in values and attitudes towards innovation, and to find which values determine positive or negative attitude towards innovations among representatives of different generations of Russians. The younger generation values of Individually Directed Thought, Stimulation, Achievement, Power/Dominance stimulate the adoption of innovations.