Understanding the recent rapprochement between Iran and America deserves due attention in the current conjuncture of international relations. Although geographically distant and culturally different, Latin Americans and Iranians have sought measures to harmonize diplomatic and commercial never before seen so far, especially in the last two decades, where both sides suffered several political and economic changes. The search for understanding of these relationships - within the scopes: nuclear, economic relationship, diplomatic / military cooperation - is essential in order to clarify the strategies behind them. According to FONSECA, Brian (2008), FARAH, Douglas (2009), CARO, Isaac; RODR?GUEZ, Isabel (2009), both sides have their own ambitions: Iran seeks a way out of the consequences of its isolation suffered since the Islamic Revolution, trying to diversify its imports and making new political allies who can bail them out within multilateral moves that could affect the Persian nation; on the other hand, Latin America, with Brazil and Venezuela at the head of this relationship, try to expand their exports and strengthen the flow of petrodollars. Both countries also seek, within its foreign policies, a strong regional player that can back each other decisions in international arena. Within the past 20 years, yet, this work also explains nuclear negotiations and strategic military cooperation that bind the two parts; being these issues usually restless among international diplomatic circles. Especially now, where the Persian nation is under the government of Mahmood Ahmadinejad and leftist governments become stronger in Latin America, this ratio reaches a level well advanced. Foreign policy advisors of Ahmadinejad are openly counting on Iran's new relations with Latin America as one of the net gains of his presidency. In fact, the new level of cooperation between Iran other Latin American countries is a timely, further confirmation of the strategic vision and outlook that they have brought to the government, compared with the Khatami's government that pushed the arch of detente with the West almost to the exclusion of all else. Therefore, new paradigms are imposed by Tehran and Latin Americans, making of South-South cooperation worth, starting relations so far unprecedented and may change the international scenario in a medium to long term, which may affect hemispheric powers and threat their international interests. Keywords: Iran, Latin America, Diplomacy, Relations, Brazil, Argentina, Venezuela, Strategy, Geopolitics.