Reed-Solomon code is nowadays broadly used in many fields of data transmission. Using of error correction codes is divided into two main operations: information coding before sending information into communication channel and decoding received information at the other side. There are vast of decoding algorithms of Reed-Solomon codes, which have specific features. There is needed knowledge of features of algorithms to choose correct algorithm which satisfies requirements of system. There are evaluated cyclic decoding algorithm, Peterson-Gorenstein-Zierler algorithm, Berlekamp-Massey algorithm, Sugiyama algorithm with erasures and without erasures and Guruswami-Sudan algorithm. There was done implementation of algorithms in software and in hardware. Simulation of implemented algorithms was performed. Algorithms were evaluated and there were proposed methods to improve their work.