Abstract. The post-Soviet history of the South Caucasus is divided into three stages of different duration, format and character. The first stage (1991-2008) began after the collapse of the USSR and continued until the war in South Ossetia in August 2008. At this time, the formation of independent states took place, the vectors of foreign policy of the new states were determined. The second stage of the post-Soviet history of the South Caucasus (2008-2020) began after a five-day war and Russia's recognition of the independence of Abkhazia and South Ossetia. Russia has strengthened its position in the South Caucasus by building a long-term system of response to potential threats in the southern direction. The Georgian factor has ceased to play an important role, the Armenian direction has become the main one in the policy of the United States and the collective West. To reformat the South Caucasus in American interests, “football diplomacy” was used, and then the second Karabakh war followed. After the end of the second Karabakh war, the third stage of the post-Soviet development of the South Caucasus began. At the end of 2020, Moscow managed to stabilize the situation and bring a contingent of Russian peacekeepers into the conflict zone. Further prospects for the development of the South Caucasus depend on many contradictory factors. The more tense the international situation and Russia's relations with the United States and the collective West will be, the higher the likelihood of the outbreak of new wars and conflicts in the South Caucasus.