The primary purpose of the paper is to present in-depth analysis of benchmarking application in HEIs worldwide. The study involves indicating premises of using benchmarking in HEIs. It also contains detailed examination of types, approaches and scope of benchmarking initiatives. The thorough insight of benchmarking applications enabled developing classification of benchmarking undertakings in HEIs. The paper includes review of the most recent benchmarking projects and relating them to the classification according to the elaborated criteria (geographical range, scope, type of data, subject, support and continuity)