The role of human capital is undoubtedly a significant factor in the development of modern economy. However, the changing economic structure forces us to analyze the phenomenon of human capital in different ways, approaches and methods. In the creative economy, the development of human capital is becoming an even more important precondition for economic progress. The aim of the dissertation is to analyze the scientific approaches to human capital and its components by defining the concept of creative economy, to form a model for assessing the impact of human capital components on the creative economy and to approve it in European countries. The thesis defined the conception of human capital and developed the structure of human capital, comprising quantitative, qualitative and value human capital components. Based on the theoretical assumptions of the interrelations between human capital components and the creative economy, a model for assessing the impact of human capital components on the creative economy of countries is proposed. The Empirical study evaluates the impact of human capital components on the creative economy of European countries in 2015-2017 period. Differences in the influence of human capital components on the creative economies is being analyzed. In the dissertation it is determined that the value of human capital is the most important component for the development of creative economy regarding to other components.