The relevance of this work lies in the need for qualitative evaluation of innovative projects, which are characterized by various technical and economic indicators, and, as a rule, significant capital investments are required for their implementation. The use of multi-criteria methods, in particular the modified Fuzzy TOPSIS, will allow to increase the accuracy of decision-making when choosing the optimal innovative project. The purpose of the work is to select the optimal innovative project through the use of the developed software application based on the modified Fuzzy TOPSIS method, as well as to investigate the influence of the parameters of the specified method on the decision-making result. To modify the Fuzzy TOPSIS method, the Euclidean distance, the Hamming distance, and the Chebyshev distance were used to determine the proximity coefficients. Another element of the modification of the Fuzzy TOPSIS method was the ability to calculate results using various fuzzy numbers, such as triangular, trapezoidal, and Gaussian. A comparative analysis of the obtained results with other multi-criteria decision-making methods was carried out. A data entry template for experts has also been created and the results presented in a clear and easy-to-read format