The party is considered neo-communist and wants to restore state ownership of industry and workers' democracy in Ukraine.

The party was considered Russophile, and campaigned for a "strategic partnership" of Ukraine with Russia and Belarus, while strongly rejecting the prospect of cooperating with either the European Union or NATO.

[16] She led a group of more radical SPU members who opposed what they regarded as revisionist tendencies in the Socialist Party.

[22] PSPU was a vocal opponent of President Leonid Kuchma but supported Viktor Yanukovych, Ukrainian prime minister since 2002, during the 2004 elections.

In the March 2006 parliamentary elections, the party again failed to gain any seats in Parliament, participating as People's Opposition Bloc of Natalia Vitrenko winning 2,93%.

The party supports the economic and social principles of communism while criticising the capitalist transition, post-Soviet democratisation and European integration.

The party calls for state ownership of the means of production and an economy based on social justice, described as the elimination of unemployment and the distribution of material goods to their direct creators.

The party also calls for "a society in which the free development of each is a condition for the free development of all, committing itself to establishing workers' democracy in enterprises, guaranteeing state ownership of basic industries and halting the privatisation process and halting the decline of kolkhozes and sovkhozes".

[12] The party has close ties with the Eurasian Youth Union and its leader Aleksandr Dugin.