Climate change in the Arctic and it’s current and perspective consequences have recently led to the growing attention of many states and the European Union in this region. This article focuses upon the development of the EU Arctic policy mainly from the perspective of the policy-making process analysis. It rises also questions about the underlying drivers of the EU interest in the Arctic and the roles of the EU institutions in the framing the issues for consideration in policy setting. The general conclusion is that although the policy making process has not been completed, it can be argued that the conception of the EU Arctic policy is rational and comprehensive. And since it has been developed in an deliberate manner it can become an important framework for the further international debates about the future of the Arctic region.