The article presents a study of the concept “academic reputation” on the basis of leading theoretical conceptions in science sociology, scientometrics, social linguistics, and discourse analysis. It shows that theoretical discussions of the concept “reputation” are focused on foundational questions, such as: how to bring resource allocation and financial award under academic reputation, how, in the society of knowledge, to practically realize the guideline to grant resource allocation among best researchers, how, on the basis of a scientist’s or institution’s reputation, to provide highly objective expertise that will add to quantitative indicators of effectiveness and recognition in science. The article also highlights actual aspects of the concept understanding in Russia’s public space on the part of its society and scientific community. It demonstrates that though the concepts “academic reputation” and “rating” are often found in similar contexts, academic reputation is not limited to quantitative indicators alone but suggests ethical and moral constituents. The conclusions made are supported by findings and interpretations of contexts for академическая репутация (academic reputation) collocation from a reasonably large sample of modern Russian MEDIA texts.