Hard useful minerals of the Louhi, Kem and Belomorian provinces are reviewed. The high demand for geological data echoes the significance of the mineral potential of this territory for the social and economic development of Arctic Russia (RF Presidential Decree of June 27, 2017). The commencement of targeted geological studies was directly connected with the construction of the Murmansk Railway. Archean granitoids occupy a large part of Arctic Karelia. One of the features of the region’ geological structure is a system of Neoarchean greenstone belts. Aunique complexly folded structure ofpolymetamorphic rocks, which evolved in polychronous manner, was formed. The Early Paleoproterozoic rift-induced system, tens of kilemetres in width, extending along the boundary between the Karelian and the Belomorian provinces, has a common source of mantle magma formation. The mineral resources of the territory mainly consist of metallic (Mo, Cu, U, Au, Ag, PGM, rare metals and REE) and nonmetallic useful minerals (diamond, apatite, granite, graphite, diatomites, ilmenite, calcareous rocks, quartz, quartzites, feldspar (ceramic pegmatite and uncommon types), kyanite, muscovite, olivinite (olivine), dunite and gemstones. Lithogeodynamic (structural and compositional) complexes with their geochemical resources are the ore-forming basis for Arctic Karelia’s mineralogenic potential. Widespread useful minerals (dimension stone, crushed stone, clay, peat, sand-gravel materials), which are abundant in Arctic Karelia, are not discussed in this paper. The authors have concluded that our knowledge of Arctic Karelia’s mineralogenic potential is still incomplete. Further scientific research, prospecting and appraisal are needed to work out a Programme for the development of Arctic Karelia’s mining industry and to facilitate its implementation with the participation of private investors and state-run corporations.