The purpose of this paper is to suggest a new approach of regional intellectual capital (further RIC) identification leading to competitive regional development. In order to make RIC management decisions leading to competitive growth, it has to be identified and its relevance for particular development purpose must be defined first. Therefore, this paper aims to reason a new RIC identification approach that takes into account strategic perspective. Suggested RIC identification approach is based on the theoretical analysis of scientific literature. According to suggested approach targeting regional intellectual resources that matter requires integration of four underpinning theories: IC theory, regional competitiveness theory, resource-based management theory and strategic management theory. Integration of these theories enriches RIC identification with strategic aspect and makes it more target-oriented. Based on the theory of regional competitiveness RIC separation into public and private dimensions is required within RIC identification process. It enables more precise distribution of responsibilities among stakeholders and makes RIC management more coordinated.