During the past decade, the strategic environment and global security have suffered significant changes. The strategic competition has increasingly accentuated and Europe is witnessing a new war on the continent that generates severe security, humanitarian, and economic consequences. The Covid19 pandemic has affected public health, global economy and societies, emphasizing vulnerabilities to hybrid threats and the need to enhance resilience. Moreover, developments in the cyber and new technologies domain pose a significant threat to the European Union and the Euro-Atlantic area. Against this background the European Union and NATO set their priorities for the next decade in the EU’ Strategic Compass and NATO 2022 Strategic Concept. We will compare the two documents with the aim at identifying similarities and difference with regard to NATO’s and EU’s views on the strategic environment and their approach in managing challenges and threats to their own security and interests, as well as to their shared goals and interests.