Barabanov Oleg– professor, PhD in Political Science, Head of Department of EU Politics and Policies, European Studies Institute, Moscow State Institute of International Relations (MGIMO University) of the MFA of Russia

The article is dedicated to the theoretical approach to global governance within the International Relations Theory. The evolution of the term 'Global Governance' is analysed. The main part of the article is dedicated to the comparision of approach to global governance in the framework of the two main theoretic schools: Neorealism and Neoliberalism. The influence of Global Governance concept on state sovereignty is also analysied. Another focus of the article is given to the functional approach to the global governance.