Abstract: The subject of this research is the democracy in Latin American countries. The author examines the trends of democratization in the region, the circumstances under which it takes place, and the key features. The object of this research is the projects of democracy – authoritarian, neoliberal, and participatory. Special attention is given to such aspects, as the ideological and value grounds, ways of implementation, ability to solve the relevant issues faced by Latin America, as well as negative and positive sides. The author determines the main components of the projects of democracy in Latin America, comparing and assessing its positive and negative aspects. The discourse on democracy seems most essential in the context of political thought of the Latin American region and political processes within. Conclusion is made that the project of participatory democracy in more ways than the other trends of democratization existing in the region meets the desire of the states and population towards freedom, equality, and prosperity.