The Ultra-Fast Flash Observatory (UFFO), which will be launched onboard the Lomonosov spacecraft, contains two crucial instruments: UFFO Burst Alert & Trigger Telescope (UBAT) for detection and localization of Gamma-Ray Bursts (GRBs) and the fast-response Slewing Mirror Telescope (SMT) designed for the observation of the prompt optical/UV counterparts. Here we discuss the in-space calibrations of the UBAT detector and SMT telescope. After the launch, the observations of the standard X-ray sources such as pulsar in Crab nebula will provide data for necessary calibrations of UBAT. Several standard stars will be used for the photometric calibration of SMT. The celestial X-ray sources, e.g. X-ray binaries with bright optical sources in their close angular vicinity will serve for the cross-calibration of UBAT and SMT.