The main goal of peaceful settlement of international disputes in The Third Millennium is to guarantee the respect for peace and security through international regulations in force. Elaboration and establishment of rules and norms for peaceful settlement of disputes is a permanent concern of politicians, statesmen, ambassadors and international law authors. International law has established a system of principles and norms, institutions, mechanisms and procedures enables to ensure the process of peacekeeping, peace making and peace building. The states are invited to take relevant international legal steps for settling peacefully theirs disputes, actions based on commonly recognized norms and principles of international law included in treaties, conventions and other documents.