Global governance is undergoing a systemic transformation involving alterations in states’ military, economic and demographic capabilities. This global restructuring is coupled with the emergence of new challenges and increasing uncertainty over what the global order will look like in the next 50 years. It is within this rapidly transforming global environment that Turkey has adopted an active foreign policy. Turkey’s foreign policy is changing in response to the global restructuring and the new challenges it entails, and is partly driven by its aspirations to be recognized as a regional power and global player. Turkey’s emphasis on national survival, assertive policy implementation and autonomous foreign policy choices all add up to demonstrate that Turkey is developing a new grand strategy in the international arena. This paper aims to assess Turkey’s grand strategy in the light of these global challenges by looking at the developments in its global capabilities and foreign policy endeavors.