The self-localized quasi-particle excitation of the electron-positron field
(EPF) is found for the first time in the framework of a standard form of the
quantum electrodynamics. This state is interpreted as the physical'' electron (positron) and it allows one to solve the following problems: i) to express the primary’’ charge and the mass of the bare'' electron in terms of the observed values of $e$ and $m$ of the physical’’ electron without any
infinite parameters and by essentially nonperturbative way; ii) to consider
-meson as another self-localized EPF state and to estimate the ratio
; iii) to prove that the self-localized state is Lorentz-invariant
and its energy spectrum corresponds to the relativistic free particle with the
observed mass ; iv) to show that the expansion in a power of the observed
charge corresponds to the strong coupling expansion in a power of the
primary'' charge $e^{-1}_0 \sim e $ when the interaction between the physical’’ electron and the transverse electromagnetic field is considered by
means of the perturbation theory and all terms of this series are free from the
ultraviolet divergence.

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