The paper summarises the results from the 1977-2003 field surveys carried out in the Murmansk Region and covering a significant part of the Kola Peninsula. Surveys in different parts of the region revealed the area of highest significance due to concentration of raptor populations. It is the lowland landscape in the upstream and midstream parts of the Ponoy River watershed, called the Ponoy Depression. This is where annual monitoring of breeding raptors was made. It turns out that the Ponoy watershed has retained the last stable Peregrine Falco pereginus population in European Russia. Simultaneously, the Ponoy Depression proved to be a landscape suitable for Gyrfalcon Falco rusticolus breeding. Long-term monitoring of the raptor population (study area ca. 1000 km²) yielded data on the status of populations of the falcons and their breeding success in the Ponoy Depression. Throughout the study period, 18 locations ever occupied by breeding Peregrine pairs have been discovered in the Ponoy Depression. At the same time, total species abundance in the Murmansk region was estimated at 25-30 breeding pairs. The greatest number of territories occupied by the Peregrine in the Ponoy Depression was recorded in 1991 and 1994, and equaled 11. The population reached the highest productivity in 1996-1999. The Peregrine food range in the breeding season comprised over 30 prey species. The most frequently taken one was the Ruff Philomachus pugnax, 52%. Total Gyrfalcon abundance in the Murmansk Region was estimated at approximately 5-10 territorial pairs. A drastic decline in the Gyrfalcon abundance and instability of its breeding in the region have been observed, which seem to be related primarily to the very low level of the populations of the Willow Grouse Lagopus lagopus and other tetraonids Tetraonidae that has lasted for about 20 years. The most frequently taken prey for both the Peregrine and the Gyrfalcon nesting in the Ponoy Depression was the Ruff (43.2% in the food range).