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The given research paper presents an attempt to analyze the Caspian region from the point of view of its cross-border specifics. In contrast to the traditional understanding of the Caspian region as the region of heightened geopolitical significance the authors analyze its peculiarities and potential in the context of the cross-border cooperation dynamics. It is especially emphasized that the Caspian region may be considered as a cross-border region which, despite the substantial similarities is different from international transnational regions. The authors focus attention on a key contradiction of the Caspian region. On the one hand, national interests and foreign policy of the states-members of the Caspian region (Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan) have a national country and regional importance, since their implementation will form an effective regional security system. On the other hand, the Caspian region attracts the attention of the world powers, becoming a subject of their interest, as it is of great importance for world energy markets and has status of a transit zone between Europe and Asia. For Azerbaijan, Iran, Kazakhstan, Russia, Turkmenistan the Caspian status is combined with their most important characteristic of post-Soviet states - shared long historical stage of development within the Soviet Union. The article distinguished and analyzed four main periods of establishment of cross-border cooperation in the Caspian region. The national specificity of modernization reforms in all the countries of the Caspian region have interrelations with further development of cross-border cooperation, the priority of that performs convergence of Caspian states on a number of strategic issues, including economic cooperation and security. (author's abstract)