The conception of the conformal phase transiton (CPT), which is releva
nt for the description of nonperturbative dynamics in gauge theories,
is introduced and elaborated. The main features of such a phase transi
tion are established. In particular, it is shown that in the CPT there
is an abrupt change of the spectrum of light excitations at the criti
cal point, though the phase transition is continuous. The structure of
the effective action describing the CPT is elaborated and its connect
ion with the dynamics of the partially conserved dilatation current is
pointed out. The applications of these results to QCD, models of dyna
mical electroweak symmetry breaking, and to the description of the pha
se diagram in (3 + 1)-dimensional SU(N-c) gauge theories are considere
d.