This article provides a theoretical and conceptual analysis of the interrelationship between the digital labor market emerging under the conditions of the platform economy and human capital. The study examines the institutional characteristics of labor relations organized through digital platforms, the mechanisms of algorithmic management, as well as new forms of utilizing human capital. The author interprets the digital labor market as an independent economic institution fundamentally different from traditional labor relations and substantiates the process of labor fragmentation within the segments of cloud work, crowd work, and gig work. The article demonstrates the transformation of human capital in the digital economy from a classical factor of production into a resource that generates data and increases platform value.