Abstract. The paper presents an analysis of the major trends of regional development in Latin America in the context of integration processes that occur in the Western Hemisphere at the subregional and regional levels. The main research question is: what would be the role of the oldest regional organization – the OAS – in the emerging regional architecture? Today, the OAS faces another crisis related mainly to the expansion of a post-liberal regionalism, which formed the basis of the recently emerged CELAC. Identifying the main prerequisites for the development of a new type regionalism in Latin America, comparing the OAS and CELAC, the authors attempted to determine the characteristics of both groups, their potential and prospects. As a result, it was concluded that the unconditional opposition of the OAS to CELAC is rather fallacious, because the two associations have substantive structural and functional differences; moreover, their image among officials differs significantly. Thus, there is no doubt that CELAC, as well as other Latin American groups, performs a complementary function when it comes to solving problems within Americas in general, while the OAS, as well as any other intergovernmental group, is greatly dependable on the political will of its member states.