The bilateral relations between Iraq and Iran have been marked by conflict and tension for a long time, both historically and up to the present day. Over the past centuries and decades, these relations have seen various levels, ranging from temporary peaceful interactions, to tension, hostility, and full-scale war. However, it must be acknowledged that the collapse of the Ba'athist regime in April 2003 and the establishment of the new political system in Iraq created challenges, opportunities, and threats for our country. Compared to the past, these challenges and opportunities differ in their nature, intensity, and time span. This article seeks to provide an answer to the question: What are these challenges, opportunities, and threats? And what policies and measures should politicians and officials in our country adopt at both the theoretical and practical levels to achieve the supreme interests of the Islamic world and the national interests of the Islamic Republic of Iran, to a greater extent than what has been achieved so far?