Abstract
<jats:p>The article analyzes the place of the neorealism in contemporary international relations theory. It examines K. Waltz’s theoretical contribution to the conceptualization of the approach, including the development of bal-ance of power theory and the concept of anarchy as the organizing principle of the system. The internal differ-entiation of neorealism into defensive and offensive directions is analyzed, along with the main lines of criti-cism of the approach from alternative schools of thought in international relations. Particular attention is paid to the explanatory potential of neorealist concepts in relation to the transformation of the international system in the 2010s–2020s, including US – China rivalry, the crisis of liberalism, and the Russian-Ukrainian conflict. The continuing relevance of neorealism is demonstrated as a specialized theoretical tool for analyzing great power competition and structural constraints on state behavior in conditions of international order transformation.</jats:p>