First, in December 2001, a rectangular panel with an aspect ratio of 2:3 was approved, which consisted of two horizontal stripes - yellow and blue in a ratio of 1:2. On the yellow strip there are three white towers with open gates. On the blue — in the middle, a yellow vertical sword with the hilt up and a horizontal yellow key with the beard down and to the right. However, following the comments of the Ukrainian Heraldic Society regarding the coat of arms, a new decision dated November 18, 2003 also changed the flag of the region. Flag: rectangular blue cloth with aspect ratio 2:3, yellow sword and key placed crosswise in the middle, three white towers above them.
The coat of arms was approved by the decision of the Ternopil Regional Council dated December 21, 2001. No. 317 with additions made by its decision of 18.11.2003 No. 203. According to the "Regulations on the content, description and procedure of application of the symbols of the Ternopil region", the sword and key on the coat of arms reflect the historical role of the region in protecting Ukrainian lands and Europe from invasion conquerors since ancient times. The three fortress towers symbolize the three historical lands, parts of which form the modern Ternopil region — Halychyna, Volhynia and Podillia, and characterize one of the most important historical factors of the region where the largest number of defensive castles in Ukraine is concentrated.