This article indicates that there are four major structural factors and four other alternative factors affecting the Asia-Pacific security environment. In short, they are: "hegemonic stability vs. maritime and continental powers struggle," "collective self-defense vs. challenging status quo," "constructive engagement and balance of threat" and "multilateralism and special diplomacy." These four sets of challenges in the regional security environment represent a developing, dynamic balance. Taiwan security will inevitably be affected by these new development and challenges. This article also addresses these new structural changes and their impact on Taiwan's peace and security.