No other issue in the history of global governance has so often been discussed with so little progress being made as the reform of the UN Security Council. This article examines the attempts to improve the composition and the working methods of the Security, presents and evaluates the latest proposals for reform, such as a new category of extended renewable membership and a code of conduct restraining from veto in situations of mass atrocities, and concludes by making forward-looking suggestions, including a win-win formula (8+8+8) for composition of the Council that unifies the interests of all countries and regions in the world.