Aim. To give an analytical review and to develop a psychological model of human perception of the global threat situation associated with the COVID-19 pandemic. Methodology. A complex analysis is carried out: new empirical data on the response to the global threat situation, which appeared during the pandemic, are considered in the context of theoretical approaches to understanding the threat of basic meanings and ways of coping with the threat. The model is created and visualized using the system dynamics method. Results. The components of the perceived threat in accepting and not accepting rapid changes in the global situation are highlighted. The processes of perception and coping with the threat are shown as cyclical (not linear). Research implications. Factors that allow changing the perception of the situation are highlighted, which can be used in the development of strategies for psychological counseling of people experiencing the threat of a pandemic.