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The aim of the article is to study the specifics of the evolution of land resources as a factor of production. It is proved that the main idea underlying modern approaches to the use of land resources is that economic subjects involved in the production process are guided by their own interests, which is caused by the maximization of utility of or profit from the available land plots. Thus, production decisions regarding allocation or use of land as a production factor are made in order to maximize profits, taking into account the state of technological development (society, industry), available resources, and government policies. Land resources throughout the entire existence of mankind have played a key role in the life of society, which is determined by national, social, economic, and natural features of the realization of the function of land as a natural object necessary for the functioning of all sectors of the economy, the main means of production and subject of labor in agriculture. The multifunctionality of land resources determines a significant number of theoretical and methodological approaches to their study. Investigating the evolution of land resources as a factor of production from the position of various economics allows distinguishing different views on this economic category. Systematizing the theoretical foundations of the evolution of land resources as a production factor in classical economics made it possible to identify the main theories of development of land relations.