The aim of the paper is to consider a process of e-courses development using component-based engineering, where the components are learning objects saved in a repository. A process of an e-course development consists of the following stages: define a goal and objectives of the e-course; develop the e-course scenario using information about learning objects and their metadata saved in a repository; select required learning objects from a repository and make their analysis to define appropriateness and make a decision on possible modifications; modify the selected learning objects, develop the new ones and test them; integrate learning objects into the e-course according to the earlier developed scenario; test the e-course (technically and pedagogically); save created and tested e-course in a database of e-learning courses for further using. The paper describes in details all the stages of the component-based approach. As well learning objects as e-course components are reviewed.