The dissertation presents the possibility of the emergency of a new paradigm of international order based on processes of regional integration and the supranational institutions that challenge the classic notion of State sovereignty. The different Integration theories and conceptual approaches taking the European Union as a referential framework are reviewed. Then, in the context of Latin American integration experiences, it concentrates in the Andean Community and Mercosur, addressing their performance and institutional design with special emphasis in their dispute settlement mechanisms. Analyzing the predominance of supranational or intergovernmental characteristics for these institutions. The study focuses on the implications of the adoption of each of the alternatives in the Andean Community and the Mercosur, and in the corresponding State members that implemented them, considering the dynamic character of both organisms, constantly changing and building institutions.