In the article, the mutual interaction between the recently transformed South Caucasus and the current polarization climate that is rearranging the relations of the dominant actors in the World system are analyzed from geopolitical and geoeconomic views. Besides, some grounded imaginations about the possible future of the region are emphasized. The perspective that dominates the study is different from the approaches that regard the South Caucasus as a passive competition area of outside powers. First, the historical, geopolitical, and geoeconomic processes that built the dynamics of the South Caucasus are explained. The importance and capacities of the regional states and their relations with third parties are presented. In the second phase, the military, political and diplomatic successes of the Turkey-Azerbaijan Alliance in the II Karabakh War are analyzed. Then, the possible effects of the Russia-Ukraine War on the South Caucasus are discussed. The struggle between the Western geoeconomic strategy, which has been put into action after the invasion of Ukraine, and the counter-geoeconomic tools of Russia are examined. In this context, it is shown how the changing energy and transportation routes draw attention to the Turkish belt, of which the South Caucasus is also a significant part.