The article presents the approach to advancement of management of innovative and industrial development of the Russian Far North. This region is crucially important for stable economic and social development of the whole Russia. Nevertheless, the economic and industrial declining taking place in the Far North regions during the last decade forces to look at the task of reindustrialization based on the innovative way of development as a very topical issue. The article proposes the System of Regional Indicators as a possible tool for regional strategic industrial development planning applied to the Russian Far North. The basic element of the System of Regional Indicators application is the strategic maps elaborated for the every component of System of Regional Indicators, namely regional finance; industry and entrepreneurship; society and market; education, development and innovations. The study describes the indicators for every component of System of Regional Indicators. The System of Regional Indicators allows presenting the process of governing of innovative and industrial development in a very illustrative form and helps to identify weak points of every region. The System of Regional Indicators gives also an opportunity to control the process of achieving goals of regional development. To differentiate the attitudes to different regions the study uses the cluster approach to the Russian Far North regions and identifies five clusters according to the level of their innovative industrial development (high; above average; average; below average and low).