Abstract After a decade dominated by post-liberal or post-hegemonic initiatives, the advent of conservative governments in Argentina and Brazil and the crisis in Venezuela have led to a resurgence of open regionalism. This could have important consequences in a region divided by different models of economic integration and political cooperation. The study evaluates the complex and changing scenario of Latin American regionalism. First, I trace the trajectory of regionalism in Latin America in recent years. Second, I examine models of economic integration and political cooperation. Third, I analyse the operation of those models in the post-hegemonic era. Lastly, I assess the emergence of a new regional cycle, and its implications for regional integration and cooperation.