The base of its organization and activities was the principle of democratic centralism.
Derzhplan was developing perspective and annual state plans of economical and social development of the Ukrainian SSR in accordance with program of the Communist Party of the Soviet Union, statements of the party's congresses and the Communist Party of Ukraine, decisions of the Central Committee of the Communist Party of the Soviet Union and the Council of Ministers of the USSR, the Central Committee of Communist Party of Ukraine and Council of Ministers of the Ukrainian SSR and instructions of the Gosplan of the USSR.
Those plans also provide a rational use of based funds and production capacities, material, labor, natural and financial resources, improving product quality, specialization of economy of the Ukrainian SSR in the All-Union division of labor in order to increase contribution in creation of the material-technical base of communism, steady increase of the living standards of the people.
Developing plans, the committee provides a rational allocation of productive forces on a territory of the republic based on specialization and cooperation in production and integrated development of regional economies and economic districts.
Unlike the rest of members of the committee who were elected by the Council of Ministers, the chairman of Derzhplan was appointed by the Central Executive Committee of the Ukrainian SSR (since 1937 - Verkhovna Rada).