SUMMARY
The article analyzes traditional views of Ukrainian linguists on the consideration/disregard of neurocognitive factors in the lexical-semantic way of word formation (hereinafter “LSWWF”). The relevance of the article lies in a pronounced divergence in the views, as well as in the contradictions in the interpretation of polysemy as a result of this type of word formation. Research methods include analysis of definitions and basic theories, comparison, extrapolation of a neuroscientific perspective on the cognitive nature of metaphorical generation of new meanings on traditional (structural and functional) approaches to linguistic phenomena. The article proves that Ukrainian linguistics involves prerequisites and basics of cognitive subject-based explanation of secondary semantics, present since the Soviet period, and lacks categorical and methodological tools for its interpretation. Besides, the authors of the article suggest some compromise solutions to these contradictions without completely abandoning traditional views on word formation. The international relevance of the article is seen in its attempts to reconsider the significant traditional achievements of Eastern European linguistics (on the example of Ukraine) in the context of objective natural neurocognitive views on key linguistic processes, in particular LSWWF.