The thesis argues that the foreign policy of the former U.S. Administration under G. W. Bush''s leadership forms a coherent set of principles that can be called the Bush Doctrine. Four pillars of the Doctrine are identified and examined in detail: preventive war and war on terrorism, selective multilateralism, democratization and human dignity, and the maintenance of American military primacy. It is claimed then that the four pillars constitute a significant threat to the conduct of international relations based on rule of international law and institutions as well as do not promote the American foreign interests in long-run. The theoretical part of the work includes discussion of Realism and Liberal Internationalism as the main competing international relations theories. A conclusion is reached in favour of the Liberal Internationalist school of thought as forming more desirable and appropriate basis of the international order.