The article deals with the peculiarities and importance of diplomacy in the mechanism of international territorial disputes settlement by analyzing the results of scientific research and the legal framework. Diplomatic means of resolving international territorial disputes have been found to include so-called “reconciliation facilities”, including negotiations, consultations, investigative and conciliation commissions, mediation, good services, etc. It has been established that diplomatic means are determined by the fact that the parties to the dispute independently “control” the dispute and may accept or reject the proposed mechanism of dispute settlement. It has been found that negotiation is the simplest, most convenient and acceptable means for the parties to an international dispute. They represent the process of finding disputes by the parties themselves by establishing direct contact and reaching an agreement between them. It has been established that consultations are a type of negotiation. They are used to continue the established contacts. Consultations are sought when negotiations need to be resumed in the light of emerging circumstances. It has been found that another type of regulation of international territorial disputes is the institution of peaceful settlement through the use of good services, which are a set of international legal norms that regulate the activities of third countries or international organizations for the purpose of their own initiative or at the request of are in conflict and aimed at establishing or renewing direct negotiations. It has been found that situations sometimes arise when the essence of the conflict is reduced to a different understanding of the factual circumstances that gave rise to the dispute. In such a case, the conclusion of investigative and conciliation commissions may be accelerated. “Virtual” diplomacy has been singled out as a kind of diplomatic way of resolving international territorial disputes, which is of ancillary character. It is emphasized that virtual diplomacy is the most optimal, convenient, economicallyadvantageous and promising method of diplomatic negotiation using innovative approaches. The expediency of the recognition and detailed regulation of the virtual diplomacy procedure at the international level is argued.