The article examines the specifics of the geopolitics of the Republic of Azerbaijan amid the transformation of the system of international relations and the increasing role of regional powers. The purpose of the article is to substantiate the main foreign policy principles of Azerbaijan as well as its role in the global and regional space. The author concludes that due to its historical features Azerbaijan considers itself as a fundamentally important actor in world processes, while in fact it is a regional power and an important energy hub of the South Caucasus. In its foreign policy official Baku is usually guided by the "friend-foe" principle and at the same time tries to maintain good relations with other states among which Russia seems to be one of the most important. The question of Azerbaijan's future development remains open: in the future Baku will probably either take an active part in various integration projects or focus on its regional leadership.