Abstract. The article reviews the general vectors and the spheres of cooperation between Latin America and Islamic Republic of Iran at present. The major attention is given to the analysis of the Teheran relationships with the countries of the Bolivarian Alliance for the Peoples of Our America. It is mentioned that these contacts were mostly based on the anti-American and anti-imperialistic ideas. There are also highlighted the fields of cooperation and the visits of the senior officials which played an important role in the regulation of political, trade, economic and humanitarian relationships, in creating the joint strategy for the world scene. The attitude of the ruling circles toward Iran’s nuclear program is investigated. The article evaluates H. Chávez’s contribution to the development of strategic alliance with Iran under M. Ahmadinedjad. It is noted that each of this group of countries put forward its own reasons for strengthening of mutual relations. The difference of approaches of Latin American giants is emphasized. Brazil, taking on the status of the great power, tried to contribute to solving the old nuclear problem, while Argentina turned sharply from total hostility to building constructive partnership. The special attention is paid to Iran president’s visit to 4 countries of the region in January 2012. It was considered as an intention to overcome the isolation at the moment of toughening of the sanctions imposed by the West. The US response to intensifying presence of Iran in the region is stated and the wide ranging opinions on the problem are shown. The article considers the future trends in the relations after the election of 2014 in Iran which brought to power moderate M. Rouhani, whose adjustments in the foreign policy affairs affected Latin America.